Axxcess Wealth Management LLC Lowers Stake in Discover Financial Services (NYSE:DFS)

Axxcess Wealth Management LLC cut its stake in Discover Financial Services (NYSE:DFS) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,315 shares of the financial services provider’s stock after selling 190 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Discover Financial Services were worth $373,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in Discover Financial Services in the fourth quarter worth $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter worth about $35,000. First Command Advisory Services Inc. acquired a new position in shares of Discover Financial Services during the third quarter valued at about $39,000. Larson Financial Group LLC boosted its stake in Discover Financial Services by 105.8% in the 3rd quarter. Larson Financial Group LLC now owns 465 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 239 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in Discover Financial Services during the 4th quarter worth approximately $42,000. 86.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DFS shares. Deutsche Bank Aktiengesellschaft cut their target price on Discover Financial Services from $140.00 to $111.00 and set a “hold” rating on the stock in a research report on Friday, January 19th. JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group upped their price objective on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Barclays boosted their price objective on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $126.29.

Discover Financial Services Stock Down 0.0 %

Shares of DFS opened at $123.60 on Thursday. The stock has a 50 day moving average price of $124.50 and a 200 day moving average price of $109.29. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $30.97 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.72 and a beta of 1.43. Discover Financial Services has a one year low of $79.04 and a one year high of $131.65.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same period in the prior year, the business posted $3.58 earnings per share. Equities research analysts forecast that Discover Financial Services will post 11.86 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.27%. Discover Financial Services’s payout ratio is 31.93%.

About Discover Financial Services

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.