Allstate Corp Makes New Investment in Discover Financial Services (NYSE:DFS)

Allstate Corp purchased a new position in Discover Financial Services (NYSE:DFS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,396 shares of the financial services provider's stock, valued at approximately $1,281,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hemington Wealth Management grew its position in shares of Discover Financial Services by 11.0% in the fourth quarter. Hemington Wealth Management now owns 503 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 50 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 56 shares during the period. Stratos Wealth Partners LTD. raised its stake 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 worth $1,067,000 after purchasing an additional 57 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Discover Financial Services by 4.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider's stock valued at $244,000 after purchasing an additional 57 shares during the last quarter. Finally, Invst LLC raised its position in shares of Discover Financial Services by 0.9% during the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider's stock valued at $1,018,000 after buying an additional 62 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial reduced their target price on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Keefe, Bruyette & Woods increased their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Wells Fargo & Company upped their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a report on Friday, January 24th. Barclays upped their price target 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. Finally, StockNews.com cut Discover Financial Services from a "buy" rating to a "hold" rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $192.40.

Discover Financial Services Stock Down 7.0 %

Shares of NYSE:DFS traded down $12.32 during trading hours on Thursday, reaching $163.62. The stock had a trading volume of 4,591,522 shares, compared to its average volume of 1,536,919. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The firm's 50 day moving average is $183.24 and its 200-day moving average is $170.92. The stock has a market capitalization of $41.17 billion, a price-to-earnings ratio of 10.15, a P/E/G 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.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's payout ratio is currently 17.54%.

Discover Financial Services Company 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.