AIA Group Ltd Takes $1.85 Million Position in Discover Financial Services (NYSE:DFS)

AIA Group Ltd purchased a new stake in Discover Financial Services (NYSE:DFS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,700 shares of the financial services provider's stock, valued at approximately $1,854,000.

Other large investors have also added to or reduced their stakes in the company. Hemington Wealth Management raised its position in shares of Discover Financial Services by 11.0% in the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider's stock valued at $87,000 after buying an additional 50 shares in the last quarter. UMB Bank n.a. increased its stake in Discover Financial Services by 0.6% in the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider's stock valued at $1,602,000 after acquiring an additional 56 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Discover Financial Services by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider's stock valued at $1,067,000 after purchasing an additional 57 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Discover Financial Services by 4.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider's stock worth $244,000 after purchasing an additional 57 shares during the last quarter. Finally, Invst LLC boosted its holdings in shares of Discover Financial Services by 0.9% in the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider's stock valued at $1,018,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company's stock.

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Discover Financial Services Trading Down 8.4 %

NYSE DFS traded down $14.79 on Thursday, hitting $161.15. The company's stock had a trading volume of 6,114,280 shares, compared to its average volume of 1,542,196. The company's 50-day moving average is $183.24 and its 200 day moving average is $170.92. The firm has a market cap of $40.55 billion, a PE ratio of 10.10, a PEG ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 1-year low of $119.31 and a 1-year high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share 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%. As a group, analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared 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 is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.74%. Discover Financial Services's payout ratio is 17.54%.

Analysts Set New Price Targets

A number of research firms have recently commented on DFS. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Barclays boosted their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Wells Fargo & Company raised their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a research note on Friday, January 24th. Truist Financial lowered their price objective on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, Royal Bank of Canada raised their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $192.40.

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.