NN Investment Partners Holdings N.V. Acquires 10,044 Shares of Discover Financial Services (NYSE:DFS)

NN Investment Partners Holdings N.V. increased its holdings in shares of Discover Financial Services (NYSE:DFS) by 12.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 91,259 shares of the financial services provider’s stock after purchasing an additional 10,044 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Discover Financial Services were worth $11,212,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Gateway Advisory LLC boosted its holdings in shares of 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 acquiring an additional 87 shares during the period. Miracle Mile Advisors LLC raised its position 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 buying an additional 87 shares in the last quarter. Estate Counselors LLC raised its position 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 buying an additional 90 shares in the last quarter. NorthCoast Asset Management LLC raised its position 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 buying an additional 91 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its position 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 buying an additional 94 shares in the last quarter. Institutional investors own 84.22% of the company’s stock.

NYSE:DFS opened at $127.54 on Friday. 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 firm has a market cap of $37.38 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 0.17 and a beta of 1.70. Discover Financial Services has a 52 week low of $81.27 and a 52 week high of $135.69. The firm has a 50-day moving average price of $117.01 and a two-hundred day moving average price of $121.93.

Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, October 19th. The financial services provider reported $3.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.53 by $0.01. Discover Financial Services had a net margin of 39.15% and a return on equity of 45.80%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the firm earned $2.45 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Discover Financial Services will post 17.66 earnings per share for the current year.

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

In other news, EVP Carlos Minetti sold 22,000 shares of Discover Financial Services stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $123.68, for a total transaction of $2,720,960.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cynthia A. Glassman sold 3,200 shares of the business’s stock in a transaction dated Tuesday, October 26th. The stock was sold at an average price of $123.93, for a total transaction of $396,576.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

DFS has been the subject of a number of analyst reports. Piper Sandler lifted their price target on shares of Discover Financial Services from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Monday, October 25th. Morgan Stanley lifted their price target on shares of Discover Financial Services from $139.00 to $146.00 and gave the company an “equal weight” rating in a research report on Monday, December 6th. Royal Bank of Canada boosted their price objective on shares of Discover Financial Services from $140.00 to $143.00 and gave the company an “outperform” rating in a research report on Friday, October 22nd. Seaport Research Partners upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Tuesday, November 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Discover Financial Services from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, October 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services has a consensus rating of “Buy” and an average price target of $134.61.

About Discover Financial Services

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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