Forsta AP Fonden Increases Position in Discover Financial Services (NYSE:DFS)

Forsta AP Fonden lifted its position in shares of Discover Financial Services (NYSE:DFS) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 65,900 shares of the financial services provider’s stock after buying an additional 1,300 shares during the period. Forsta AP Fonden’s holdings in Discover Financial Services were worth $8,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Gateway Advisory LLC increased its position in Discover Financial Services by 1.7% during the third quarter. Gateway Advisory LLC now owns 5,060 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 87 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of Discover Financial Services by 4.8% in the third quarter. Miracle Mile Advisors LLC now owns 1,882 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 87 shares during the period. Estate Counselors LLC boosted its stake in shares of Discover Financial Services by 0.8% in the third quarter. Estate Counselors LLC now owns 10,875 shares of the financial services provider’s stock valued at $1,335,000 after purchasing an additional 90 shares during the period. NorthCoast Asset Management LLC boosted its stake in shares of Discover Financial Services by 1.5% in the second quarter. NorthCoast Asset Management LLC now owns 6,136 shares of the financial services provider’s stock valued at $727,000 after purchasing an additional 91 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its stake in shares of Discover Financial Services by 3.1% in the second quarter. Johnson Investment Counsel Inc. now owns 3,169 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 94 shares during the period. 84.22% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have commented on the stock. Barclays increased their price objective on shares of Discover Financial Services from $146.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, January 10th. Seaport Res Ptn upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 2nd. Piper Sandler raised their price target on shares of Discover Financial Services from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, October 25th. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Tuesday, January 4th. Finally, Seaport Global Securities upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research report on Tuesday, November 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $134.61.

Shares of DFS opened at $127.54 on Friday. Discover Financial Services has a 52-week low of $81.27 and a 52-week high of $135.69. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day simple moving average of $117.01 and a 200 day simple moving average of $121.93. The firm has a market capitalization of $37.38 billion, a PE ratio of 7.63, a P/E/G ratio of 0.17 and a beta of 1.70.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Tuesday, October 19th. The financial services provider reported $3.54 EPS for the quarter, beating the consensus estimate of $3.53 by $0.01. Discover Financial Services had a return on equity of 45.80% and a net margin of 39.15%. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm posted $2.45 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts predict that Discover Financial Services will post 17.66 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 9th. Investors of record on Wednesday, November 24th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Tuesday, November 23rd. Discover Financial Services’s payout ratio is currently 11.96%.

In other Discover Financial Services news, EVP Carlos Minetti sold 22,000 shares of Discover Financial Services stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $123.68, for a total value of $2,720,960.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cynthia A. Glassman sold 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 26th. The shares were sold at an average price of $123.93, for a total value of $396,576.00. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Discover Financial Services Profile

Discover Financial Services is a holding company, which engages in the provision of direct banking and payment services. It operates through the Direct Banking and Payment Services segments. The Direct Banking segment offers Discover-branded credit cards issued to individuals on the Discover Network and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending and deposit products.

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

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