Discover Financial Services (NYSE:DFS) Holdings Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Discover Financial Services (NYSE:DFS) by 38.2% during the first quarter, Holdings Channel reports. The institutional investor owned 50,356 shares of the financial services provider’s stock after acquiring an additional 13,931 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Discover Financial Services were worth $5,549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DFS. Tyler Stone Wealth Management bought a new stake in shares of Discover Financial Services during the 4th quarter worth about $27,000. Tcwp LLC acquired a new position in shares of Discover Financial Services in the 1st quarter worth approximately $43,000. CVA Family Office LLC grew its stake in shares of Discover Financial Services by 60.3% in the 1st quarter. CVA Family Office LLC now owns 465 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 175 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Discover Financial Services in the 4th quarter worth approximately $52,000. Finally, Rise Advisors LLC acquired a new position in shares of Discover Financial Services in the 4th quarter worth approximately $54,000. 83.92% of the stock is currently owned by institutional investors.

Discover Financial Services Price Performance

NYSE DFS opened at $94.97 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $25.94 billion, a PE ratio of 6.18, a price-to-earnings-growth ratio of 0.22 and a beta of 1.43. The company has a 50 day moving average price of $102.66 and a two-hundred day moving average price of $105.45. Discover Financial Services has a 12-month low of $88.02 and a 12-month high of $133.40.

Discover Financial Services (NYSE:DFSGet Rating) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.21. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The company’s revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $5.55 earnings per share. As a group, equities analysts predict that Discover Financial Services will post 15.37 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 25th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Wednesday, August 24th. Discover Financial Services’s payout ratio is 15.63%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DFS shares. Credit Suisse Group lowered their price objective on shares of Discover Financial Services to $134.00 in a research note on Friday, July 22nd. Bank of America dropped their target price on shares of Discover Financial Services from $128.00 to $120.00 in a research report on Sunday, July 24th. JPMorgan Chase & Co. downgraded shares of Discover Financial Services from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $140.00 to $113.00 in a research report on Tuesday, September 6th. Citigroup downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $140.00 to $115.00 in a research report on Friday, July 22nd. Finally, Barclays dropped their target price on shares of Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating on the stock in a research report on Friday, July 22nd. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.88.

Discover Financial Services Company Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFSGet Rating).

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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