IFG Advisory LLC Acquires 12,168 Shares of Discover Financial Services (NYSE:DFS)

IFG Advisory LLC lifted its position in shares of Discover Financial Services (NYSE:DFS) by 46.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,212 shares of the financial services provider’s stock after buying an additional 12,168 shares during the period. IFG Advisory LLC’s holdings in Discover Financial Services were worth $4,295,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Flputnam Investment Management Co. boosted its position in Discover Financial Services by 7.9% during the third quarter. Flputnam Investment Management Co. now owns 2,646 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 193 shares during the last quarter. Vest Financial LLC boosted its stake in shares of Discover Financial Services by 18.8% during the 4th quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock worth $13,685,000 after acquiring an additional 19,283 shares during the period. Cambridge Financial Group Inc. bought a new position in shares of Discover Financial Services during the 3rd quarter worth approximately $4,697,000. Assenagon Asset Management S.A. boosted its stake in shares of Discover Financial Services by 7.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 493,254 shares of the financial services provider’s stock worth $55,442,000 after acquiring an additional 34,899 shares during the period. Finally, Dai ichi Life Insurance Company Ltd bought a new position in shares of Discover Financial Services during the 3rd quarter worth approximately $202,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler lifted their price target on Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Stephens reaffirmed an “equal weight” rating and issued a $98.00 price objective on shares of Discover Financial Services in a report on Thursday, December 14th. Morgan Stanley raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $105.00 to $133.00 in a report on Thursday, February 8th. Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $121.83.

Insider Buying and Selling

In related news, CFO John Greene sold 35,191 shares of the company’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 directly owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.69% of the stock is owned by company insiders.

Discover Financial Services Stock Up 2.1 %

Shares of NYSE:DFS opened at $128.00 on Thursday. The company has a market capitalization of $32.07 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.39 and a beta of 1.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50-day moving average is $114.65 and its 200-day moving average is $101.46. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $128.03.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.96). The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. Discover Financial Services had a net margin of 14.30% and a return on equity of 22.24%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.77 earnings per share. Equities research analysts predict that Discover Financial Services will post 11.08 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 22nd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, February 21st. Discover Financial Services’s dividend payout ratio (DPR) is currently 24.89%.

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; 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.