APG Asset Management N.V. lessened its position in Discover Financial Services (NYSE:DFS - Free Report) by 72.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 136,300 shares of the financial services provider's stock after selling 358,531 shares during the period. APG Asset Management N.V. owned approximately 0.05% of Discover Financial Services worth $22,802,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in DFS. SBI Securities Co. Ltd. acquired a new stake in Discover Financial Services in the fourth quarter valued at $33,000. Flagship Wealth Advisors LLC purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $34,000. Grove Bank & Trust increased its holdings in shares of Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Bfsg LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $35,000. Finally, Hantz Financial Services Inc. purchased a new stake in Discover Financial Services during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 86.94% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on DFS. Royal Bank of Canada increased 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 report on Friday, January 24th. Truist Financial dropped their price objective on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a research note on Friday, March 21st. UBS Group upgraded Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Barclays raised their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $188.40.
Check Out Our Latest Stock Report on DFS
Discover Financial Services Trading Up 2.0 %
Shares of NYSE:DFS traded up $3.14 during trading on Tuesday, reaching $162.21. The stock had a trading volume of 235,906 shares, compared to its average volume of 1,574,310. 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 fifty day moving average price of $174.55 and a 200-day moving average price of $172.23. The stock has a market cap of $40.81 billion, a P/E ratio of 10.16, a PEG ratio of 1.51 and a beta of 1.20. 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 results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.
Discover Financial Services Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio (DPR) is 17.54%.
About Discover Financial Services
(
Free Report)
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.
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