Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Discover Financial Services (NYSE:DFS – Free Report) by 13.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,256 shares of the financial services provider’s stock after buying an additional 5,967 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Discover Financial Services were worth $4,354,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Penserra Capital Management LLC boosted its holdings in shares of Discover Financial Services by 7.2% in the 4th quarter. Penserra Capital Management LLC now owns 1,451 shares of the financial services provider’s stock valued at $141,000 after buying an additional 97 shares in the last quarter. Toroso Investments LLC boosted its stake in Discover Financial Services by 3.1% during the 1st quarter. Toroso Investments LLC now owns 3,299 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 98 shares during the period. Simon Quick Advisors LLC boosted its stake in Discover Financial Services by 1.6% during the 2nd quarter. Simon Quick Advisors LLC now owns 6,356 shares of the financial services provider’s stock worth $743,000 after purchasing an additional 101 shares during the period. TIAA FSB boosted its stake in Discover Financial Services by 1.2% during the 4th quarter. TIAA FSB now owns 8,532 shares of the financial services provider’s stock worth $835,000 after purchasing an additional 102 shares during the period. Finally, Tortoise Investment Management LLC boosted its stake in Discover Financial Services by 6.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 1,628 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.
Discover Financial Services Stock Performance
Shares of DFS opened at $109.18 on Monday. The company has a 50-day simple moving average of $106.98 and a 200-day simple moving average of $95.99. The company has a quick ratio of 1.12, a current ratio of 1.06 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $27.30 billion, a PE ratio of 9.70, a P/E/G ratio of 0.91 and a beta of 1.43. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $122.50.
Discover Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, February 21st. This represents a $2.80 annualized dividend and a dividend yield of 2.56%. Discover Financial Services’s dividend payout ratio is currently 24.89%.
Insiders Place Their Bets
In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the sale, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on DFS shares. Morgan Stanley upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $105.00 to $133.00 in a research note on Thursday. The Goldman Sachs Group decreased their price target on shares of Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, January 19th. Stephens restated an “equal weight” rating and issued a $98.00 target price on shares of Discover Financial Services in a research note on Thursday, December 14th. Bank of America upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the stock from $94.00 to $116.00 in a research note on Wednesday, December 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a research note on Friday, January 19th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $114.24.
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; 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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