Wellington Management Group LLP lowered its position in shares of Discover Financial Services (NYSE:DFS) by 69.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,694 shares of the financial services provider’s stock after selling 14,932 shares during the period. Wellington Management Group LLP’s holdings in Discover Financial Services were worth $238,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AMF Pensionsforsakring AB lifted its stake in shares of Discover Financial Services by 3.4% in the 4th quarter. AMF Pensionsforsakring AB now owns 370,621 shares of the financial services provider’s stock valued at $31,436,000 after acquiring an additional 12,083 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Discover Financial Services by 1.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 74,991 shares of the financial services provider’s stock valued at $6,361,000 after acquiring an additional 1,146 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Discover Financial Services in the 4th quarter valued at about $140,000. Capital Asset Advisory Services LLC lifted its stake in shares of Discover Financial Services by 26.8% in the 4th quarter. Capital Asset Advisory Services LLC now owns 6,435 shares of the financial services provider’s stock valued at $487,000 after acquiring an additional 1,359 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Discover Financial Services in the 1st quarter valued at about $13,056,000. 82.82% of the stock is owned by institutional investors.
In related news, EVP Robert Andrew Eichfeld acquired 12,650 shares of the stock in a transaction on Wednesday, May 6th. The stock was acquired at an average price of $39.50 per share, for a total transaction of $499,675.00. Following the completion of the purchase, the executive vice president now owns 33,454 shares of the company’s stock, valued at $1,321,433. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.
DFS stock opened at $49.32 on Wednesday. Discover Financial Services has a fifty-two week low of $23.25 and a fifty-two week high of $92.98. The business’s 50 day moving average price is $48.98 and its two-hundred day moving average price is $58.75. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $15.22 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 4.16 and a beta of 1.87.
Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($2.34). Discover Financial Services had a return on equity of 20.38% and a net margin of 15.39%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the company posted $2.15 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Discover Financial Services will post 1.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $1.76 annualized dividend and a dividend yield of 3.57%. Discover Financial Services’s payout ratio is currently 19.38%.
A number of research firms have recently weighed in on DFS. Wells Fargo & Co lowered their target price on Discover Financial Services from $88.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Credit Suisse Group restated a “buy” rating on shares of Discover Financial Services in a report on Monday, May 18th. BMO Capital Markets upgraded Discover Financial Services from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $55.00 to $52.00 in a report on Thursday, May 14th. TheStreet downgraded Discover Financial Services from a “b-” rating to a “c+” rating in a report on Thursday, March 12th. Finally, Deutsche Bank reduced their price target on Discover Financial Services from $72.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Discover Financial Services presently has a consensus rating of “Buy” and a consensus price target of $62.87.
Discover Financial Services Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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