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Avior Wealth Management LLC Sells 6,201 Shares of Discover Financial Services (NYSE:DFS)

Discover Financial Services logo with Finance background

Avior Wealth Management LLC lowered its stake in Discover Financial Services (NYSE:DFS - Free Report) by 80.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,471 shares of the financial services provider's stock after selling 6,201 shares during the quarter. Avior Wealth Management LLC's holdings in Discover Financial Services were worth $255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DFS. National Pension Service grew its stake in shares of Discover Financial Services by 14.8% in the 3rd quarter. National Pension Service now owns 439,756 shares of the financial services provider's stock worth $61,693,000 after purchasing an additional 56,814 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Discover Financial Services by 10.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider's stock valued at $16,202,000 after acquiring an additional 10,946 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new position in Discover Financial Services during the 2nd quarter worth approximately $4,835,000. Brookstone Capital Management acquired a new stake in Discover Financial Services during the 4th quarter valued at $282,000. Finally, Meyer Handelman Co. purchased a new stake in Discover Financial Services in the 4th quarter worth about $239,000. 86.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DFS has been the topic of a number of research reports. StockNews.com downgraded Discover Financial Services from a "buy" rating to a "hold" rating in a report on Friday. Wells Fargo & Company increased their price objective on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a report on Friday. Royal Bank of Canada lifted 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 note on Friday. JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a report on Friday. Finally, Barclays lifted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $182.64.

Get Our Latest Analysis on DFS

Discover Financial Services Stock Performance

Shares of NYSE DFS traded down $0.49 during trading hours on Tuesday, reaching $199.84. The stock had a trading volume of 1,721,568 shares, compared to its average volume of 1,589,678. Discover Financial Services has a twelve month low of $104.08 and a twelve month high of $204.93. The company has a market cap of $50.22 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.15 and a beta of 1.46. The business's fifty day moving average is $179.36 and its two-hundred day moving average is $155.35. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.03.

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 EPS for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 27.52% and a net margin of 17.29%. As a group, research analysts expect that Discover Financial Services will post 12.82 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's dividend payout ratio (DPR) is currently 17.54%.

Discover Financial Services Profile

(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.

Further Reading

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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