Elo Mutual Pension Insurance Co Sells 4,664 Shares of Discover Financial Services (NYSE:DFS)

Elo Mutual Pension Insurance Co decreased its position in Discover Financial Services (NYSE:DFS) by 21.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,457 shares of the financial services provider’s stock after selling 4,664 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Discover Financial Services were worth $3,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Discover Financial Services by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock worth $5,377,961,000 after acquiring an additional 290,937 shares during the period. State Street Corp raised its stake in shares of Discover Financial Services by 0.8% during the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after purchasing an additional 80,601 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Discover Financial Services in the 4th quarter worth about $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Discover Financial Services by 0.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock valued at $257,391,000 after buying an additional 12,255 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Discover Financial Services by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,738,804 shares of the financial services provider’s stock worth $301,213,000 after buying an additional 10,528 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Truist Financial lowered their price objective on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Barclays increased their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Royal Bank of Canada raised their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and a consensus price target of $192.40.

Discover Financial Services Stock Performance

NYSE:DFS opened at $158.23 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The business has a 50 day moving average price of $184.39 and a 200-day moving average price of $169.76. The firm has a market cap of $39.81 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Equities research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.77%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

About Discover Financial Services

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.