Discover Financial Services (NYSE:DFS) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 35.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 670 shares of the financial services provider’s stock after selling 365 shares during the period. Raleigh Capital Management Inc.’s holdings in Discover Financial Services were worth $116,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. FMR LLC increased its position in Discover Financial Services by 8.0% during the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after purchasing an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Discover Financial Services by 1,272.0% during the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after buying an additional 245,829 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Discover Financial Services by 67.1% in the second quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider’s stock valued at $62,606,000 after buying an additional 192,142 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Discover Financial Services in the third quarter valued at approximately $21,169,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Discover Financial Services by 23.1% during the second quarter. The Manufacturers Life Insurance Company now owns 619,818 shares of the financial services provider’s stock valued at $81,078,000 after buying an additional 116,412 shares during the period. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $200.89 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The company has a market cap of $50.49 billion, a PE ratio of 16.21, a P/E/G ratio of 1.10 and a beta of 1.46. The company’s fifty day simple moving average is $177.76 and its 200-day simple moving average is $153.68. Discover Financial Services has a 52 week low of $99.79 and a 52 week high of $204.93.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 22.08% and a net margin of 13.78%. As a group, equities research analysts anticipate that Discover Financial Services will post 14.15 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Wall Street Analyst Weigh In

DFS has been the subject of several analyst reports. Barclays upgraded Discover Financial Services from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $137.00 to $186.00 in a report on Monday, January 6th. Wells Fargo & Company increased their target price on Discover Financial Services from $160.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Friday, January 3rd. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $171.71.

Discover Financial Services 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.