Discover Financial Services (NYSE:DFS) Stock Position Increased by J.P. Morgan Private Wealth Advisors LLC

J.P. Morgan Private Wealth Advisors LLC raised its position in Discover Financial Services (NYSE:DFSFree Report) by 22.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,668 shares of the financial services provider’s stock after purchasing an additional 8,961 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in Discover Financial Services were worth $4,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carmichael Hill & Associates Inc. acquired a new stake in shares of Discover Financial Services in the second quarter worth about $35,000. Resurgent Financial Advisors LLC bought a new position in Discover Financial Services during the fourth quarter valued at about $31,000. Compass Wealth Management LLC bought a new position in Discover Financial Services during the fourth quarter valued at about $34,000. Aspire Private Capital LLC increased its stake in Discover Financial Services by 180.0% during the fourth quarter. Aspire Private Capital LLC now owns 350 shares of the financial services provider’s stock valued at $34,240,500,000 after acquiring an additional 225 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Discover Financial Services in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Insider Activity at Discover Financial Services

In related news, CFO John Greene sold 35,191 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 18,592 shares in the company, valued at $1,980,233.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DFS shares. Bank of America upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the stock from $94.00 to $116.00 in a research report on Wednesday, December 6th. Stephens restated an “equal weight” rating and set a $98.00 price target on shares of Discover Financial Services in a research report on Thursday, December 14th. HSBC lowered Discover Financial Services from a “buy” rating to a “hold” rating and decreased their price target for the stock from $121.00 to $107.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. reduced their price objective on Discover Financial Services from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday, October 17th. Finally, The Goldman Sachs Group reduced their price objective on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services has an average rating of “Moderate Buy” and a consensus price target of $114.24.

Get Our Latest Stock Report on Discover Financial Services

Discover Financial Services Stock Up 0.6 %

Shares of DFS opened at $106.28 on Thursday. Discover Financial Services has a one year low of $79.04 and a one year high of $122.50. The company has a market cap of $26.58 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $106.40 and a two-hundred day simple moving average of $96.06.

Discover Financial Services (NYSE:DFSGet Free Report) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.96). The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.10 billion. Discover Financial Services had a return on equity of 21.81% and a net margin of 14.30%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $3.77 earnings per share. Research analysts forecast that Discover Financial Services will post 11.26 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Thursday, February 22nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $2.80 dividend on an annualized basis and a yield of 2.63%. Discover Financial Services’s payout ratio is 24.89%.

About Discover Financial Services

(Free Report)

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.

Recommended Stories

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

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.