Sumitomo Mitsui DS Asset Management Company Ltd Lowers Position in Discover Financial Services (NYSE:DFS)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in Discover Financial Services (NYSE:DFS) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,487 shares of the financial services provider’s stock after selling 231 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Discover Financial Services were worth $3,652,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DFS. Flputnam Investment Management Co. grew its position in shares of Discover Financial Services by 7.9% in the 3rd quarter. Flputnam Investment Management Co. now owns 2,646 shares of the financial services provider’s stock worth $229,000 after buying an additional 193 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Discover Financial Services by 335.4% during the fourth quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock valued at $7,171,000 after purchasing an additional 49,145 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Discover Financial Services by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock valued at $103,000,000 after purchasing an additional 16,532 shares during the last quarter. Vest Financial LLC lifted its holdings in shares of Discover Financial Services by 18.8% during the fourth quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock valued at $13,685,000 after purchasing an additional 19,283 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of Discover Financial Services by 27.1% in the 4th quarter. Raymond James & Associates now owns 339,717 shares of the financial services provider’s stock worth $38,184,000 after purchasing an additional 72,452 shares in the last quarter. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

NYSE DFS opened at $126.69 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.05 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $31.74 billion, a P/E ratio of 14.45, a PEG ratio of 0.76 and a beta of 1.45. The company has a 50-day moving average price of $122.34 and a 200-day moving average price of $106.44. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $131.65.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 16.74% and a net margin of 10.56%. During the same quarter in the previous year, the business posted $3.58 earnings per share. Equities research analysts anticipate that Discover Financial Services will post 11.34 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a yield of 2.21%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Wall Street Analyst Weigh In

DFS has been the subject of a number of analyst reports. Evercore ISI raised their price objective on Discover Financial Services from $117.00 to $140.00 and gave the company an “in-line” rating in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a report on Friday, January 19th. BMO Capital Markets dropped their price target on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. StockNews.com assumed coverage on shares of Discover Financial Services in a research report on Thursday, April 18th. They set a “hold” rating on the stock. Finally, Seaport Res Ptn cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $126.29.

Insider Buying and Selling at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $106.51, for a total value of $3,748,193.41. Following the transaction, the chief financial officer now owns 18,592 shares of the company’s stock, valued at $1,980,233.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by corporate insiders.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.