Philip James Wealth Mangement LLC Makes New Investment in Discover Financial Services (NYSE:DFS)

Philip James Wealth Mangement LLC bought a new position in Discover Financial Services (NYSE:DFS) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,654 shares of the financial services provider’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DFS. Elser Financial Planning Inc purchased a new stake in shares of Discover Financial Services in the 2nd quarter valued at approximately $91,044,000. Magnetar Financial LLC purchased a new position in Discover Financial Services in the first quarter worth approximately $71,693,000. Samlyn Capital LLC increased its stake in Discover Financial Services by 368.0% during the second quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock worth $84,594,000 after acquiring an additional 508,504 shares during the last quarter. M&G Plc purchased a new stake in Discover Financial Services in the first quarter valued at $62,829,000. Finally, National Bank of Canada FI lifted its stake in shares of Discover Financial Services by 430.5% in the 1st quarter. National Bank of Canada FI now owns 443,707 shares of the financial services provider’s stock valued at $54,752,000 after purchasing an additional 360,074 shares during the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Trading Up 0.1 %

Shares of NYSE:DFS opened at $175.21 on Friday. Discover Financial Services has a 52 week low of $82.15 and a 52 week high of $188.26. The company’s 50 day moving average is $143.69 and its two-hundred day moving average is $134.22. The company has a market cap of $43.99 billion, a PE ratio of 14.14, a P/E/G ratio of 0.96 and a beta of 1.41. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the firm posted $2.59 earnings per share. Equities analysts predict that Discover Financial Services will post 13.35 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.60%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays raised their price objective on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Royal Bank of Canada lifted their target price on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Evercore ISI lifted their price objective on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $138.81.

Discover Financial Services Company Profile

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; 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.