Discover Financial Services (NYSE:DFS) is Alpine Associates Management Inc.’s 5th Largest Position

Alpine Associates Management Inc. boosted its holdings in Discover Financial Services (NYSE:DFS) by 2.2% in the third quarter, HoldingsChannel reports. The firm owned 878,164 shares of the financial services provider’s stock after purchasing an additional 18,670 shares during the period. Discover Financial Services comprises about 5.6% of Alpine Associates Management Inc.’s portfolio, making the stock its 5th largest holding. Alpine Associates Management Inc.’s holdings in Discover Financial Services were worth $123,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. lifted its holdings in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after buying an additional 157 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $26,000. Y.D. More Investments Ltd lifted its holdings in shares of Discover Financial Services by 147.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Discover Financial Services by 72.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 95 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Discover Financial Services by 348.2% in the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DFS. Royal Bank of Canada raised their price target on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company raised their target price on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Evercore ISI raised their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.81.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $172.54 on Wednesday. The stock has a market cap of $43.32 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. The business has a fifty day simple moving average of $149.54 and a 200-day simple moving average of $136.74. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 12 month low of $85.19 and a 12 month high of $188.26.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same quarter last year, the firm earned $2.59 earnings per share. On average, sell-side analysts anticipate that Discover Financial Services will post 13.23 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.62%. Discover Financial Services’s payout ratio is 22.60%.

Discover Financial Services Profile

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; 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.