First Trust Advisors LP Cuts Stock Holdings in Discover Financial Services (NYSE:DFS)

First Trust Advisors LP trimmed its stake in shares of Discover Financial Services (NYSE:DFSFree Report) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,027,971 shares of the financial services provider’s stock after selling 23,223 shares during the quarter. First Trust Advisors LP owned 0.81% of Discover Financial Services worth $227,944,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DFS. Norges Bank purchased a new position in shares of Discover Financial Services in the 4th quarter worth $322,199,000. Truist Financial Corp increased its position in shares of Discover Financial Services by 239.6% in the 4th quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock valued at $227,912,000 after acquiring an additional 1,430,637 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Discover Financial Services in the fourth quarter valued at $121,113,000. Palestra Capital Management LLC purchased a new position in Discover Financial Services in the 3rd quarter valued at about $81,865,000. Finally, AQR Capital Management LLC increased its holdings in shares of Discover Financial Services by 336.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,133,784 shares of the financial services provider’s stock worth $98,220,000 after buying an additional 874,020 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Trading Up 0.9 %

Discover Financial Services stock opened at $122.13 on Thursday. The firm’s fifty day moving average price is $124.68 and its 200-day moving average price is $114.97. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65. The stock has a market cap of $30.61 billion, a P/E ratio of 13.93, a PEG ratio of 0.73 and a beta of 1.41.

Discover Financial Services (NYSE:DFSGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same period in the previous year, the business earned $3.58 earnings per share. Equities research analysts forecast that Discover Financial Services will post 11.48 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, June 6th. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Seaport Res Ptn lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. HSBC raised their target price on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Discover Financial Services in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $140.00 target price (up from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $126.29.

Get Our Latest Stock Report on DFS

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.

See Also

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

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