Cinctive Capital Management LP Cuts Stake in Discover Financial Services (NYSE:DFS)

Cinctive Capital Management LP cut its stake in Discover Financial Services (NYSE:DFS) by 24.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,523 shares of the financial services provider’s stock after selling 27,503 shares during the quarter. Cinctive Capital Management LP’s holdings in Discover Financial Services were worth $11,717,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers boosted its stake in shares of Discover Financial Services by 154.2% in the first quarter. Cetera Investment Advisers now owns 68,990 shares of the financial services provider’s stock worth $9,044,000 after acquiring an additional 41,846 shares during the last quarter. Cetera Advisors LLC boosted its stake in Discover Financial Services by 57.9% during the 1st quarter. Cetera Advisors LLC now owns 20,340 shares of the financial services provider’s stock worth $2,666,000 after purchasing an additional 7,462 shares during the last quarter. GAMMA Investing LLC boosted its stake in Discover Financial Services by 138.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,659 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 2,123 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Discover Financial Services by 35.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,154 shares of the financial services provider’s stock worth $151,000 after buying an additional 300 shares in the last quarter. Finally, DNB Asset Management AS raised its position in shares of Discover Financial Services by 8.6% in the second quarter. DNB Asset Management AS now owns 46,829 shares of the financial services provider’s stock valued at $6,126,000 after buying an additional 3,718 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DFS shares. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Evercore ISI boosted their price objective on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Thirteen 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 has an average rating of “Hold” and an average price target of $138.81.

Discover Financial Services Stock Down 0.1 %

NYSE:DFS opened at $182.43 on Monday. Discover Financial Services has a 52 week low of $89.58 and a 52 week high of $188.26. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The stock’s fifty day moving average is $156.66 and its two-hundred day moving average is $139.87. The stock has a market capitalization of $45.80 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.16 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same period last year, the business posted $2.59 EPS. Research analysts anticipate that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.53%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.60%.

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.