Cambridge Financial Group Inc. Sells 2,275 Shares of Discover Financial Services (NYSE:DFS)

Cambridge Financial Group Inc. cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,770 shares of the financial services provider’s stock after selling 2,275 shares during the period. Discover Financial Services makes up approximately 2.8% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 24th largest holding. Cambridge Financial Group Inc.’s holdings in Discover Financial Services were worth $6,255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tyler Stone Wealth Management acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at about $27,000. Benjamin Edwards Inc. raised its stake in shares of Discover Financial Services by 43.9% in the 4th quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 104 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at about $42,000. West Bancorporation Inc. acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at about $42,000. Finally, Quent Capital LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at about $52,000. 85.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley dropped their price target on Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Friday, July 22nd. Wolfe Research downgraded Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 target price on the stock. in a research report on Thursday, May 12th. Barclays lowered their target price on Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating on the stock in a research report on Friday, July 22nd. Piper Sandler lifted their target price on Discover Financial Services to $132.00 in a research report on Friday, July 22nd. Finally, Bank of America lowered their target price on Discover Financial Services from $128.00 to $120.00 in a research report on Sunday, July 24th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services has a consensus rating of “Moderate Buy” and an average target price of $127.56.

Discover Financial Services Trading Down 0.0 %

NYSE:DFS traded down $0.01 during trading hours on Friday, reaching $102.35. The company’s stock had a trading volume of 1,313,984 shares, compared to its average volume of 2,076,221. The firm has a market capitalization of $27.96 billion, a price-to-earnings ratio of 6.66, a PEG ratio of 0.23 and a beta of 1.45. The firm has a 50-day simple moving average of $100.99 and a 200-day simple moving average of $109.23. Discover Financial Services has a 1 year low of $88.02 and a 1 year high of $135.69. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.26 and a current ratio of 1.26.

Discover Financial Services (NYSE:DFSGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.19. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the company earned $5.55 earnings per share. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. Research analysts expect that Discover Financial Services will post 15.21 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 25th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.34%. The ex-dividend date is Wednesday, August 24th. Discover Financial Services’s payout ratio is currently 15.63%.

About Discover Financial Services

(Get Rating)

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

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

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