State Board of Administration of Florida Retirement System Has $24.90 Million Stake in Discover Financial Services (NYSE:DFS)

State Board of Administration of Florida Retirement System decreased its position in Discover Financial Services (NYSE:DFS) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 287,456 shares of the financial services provider’s stock after selling 17,450 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of Discover Financial Services worth $24,902,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Carmichael Hill & Associates Inc. bought a new position in Discover Financial Services in the second quarter valued at about $35,000. Resurgent Financial Advisors LLC bought a new position in Discover Financial Services in the fourth quarter valued at about $31,000. Compass Wealth Management LLC bought a new position in Discover Financial Services in the fourth quarter valued at about $34,000. Aspire Private Capital LLC boosted its holdings 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 worth $34,240,500,000 after buying an additional 225 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Discover Financial Services during the third quarter worth about $30,000. Institutional investors own 83.63% of the company’s stock.

Discover Financial Services Stock Up 0.3 %

NYSE:DFS opened at $109.18 on Friday. The firm has a market capitalization of $27.30 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $122.50. The stock’s 50 day moving average price is $106.98 and its two-hundred day moving average price is $96.07. The company has a quick ratio of 1.12, a current ratio of 1.06 and a debt-to-equity ratio of 1.48.

Discover Financial Services (NYSE:DFSGet Free Report) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share 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 revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $3.77 EPS. Equities research analysts expect that Discover Financial Services will post 11.28 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, February 21st. Discover Financial Services’s dividend payout ratio (DPR) is 24.89%.

Insiders Place Their Bets

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the transaction, the chief financial officer now owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

DFS has been the topic of a number of recent analyst reports. Morgan Stanley upgraded Discover Financial Services from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $105.00 to $133.00 in a report on Thursday. Piper Sandler upgraded Discover Financial Services from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $104.00 to $129.00 in a report on Wednesday, January 3rd. HSBC cut Discover Financial Services from a “buy” rating to a “hold” rating and reduced their target price for the stock from $121.00 to $107.00 in a report on Friday, January 19th. TD Cowen initiated coverage on Discover Financial Services in a report on Wednesday, November 1st. They set an “outperform” rating and a $100.00 target price on the stock. Finally, Stephens restated an “equal weight” rating and set a $98.00 target price on shares of Discover Financial Services in a report on Thursday, December 14th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.24.

Get Our Latest Stock Report on DFS

Discover Financial Services Company Profile

(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.

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

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