Brandywine Global Investment Management LLC reduced its position in Discover Financial Services (NYSE:DFS - Free Report) by 7.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,027 shares of the financial services provider's stock after selling 11,503 shares during the period. Brandywine Global Investment Management LLC owned about 0.06% of Discover Financial Services worth $24,950,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of DFS. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Discover Financial Services during the 3rd quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Discover Financial Services in the fourth quarter worth $33,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at $34,000. Grove Bank & Trust boosted its stake in shares of Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 89 shares during the last quarter. Finally, Bfsg LLC purchased a new stake in Discover Financial Services during the 4th quarter worth about $35,000. 86.94% of the stock is owned by institutional investors and hedge funds.
Discover Financial Services Trading Up 3.1 %
Shares of DFS traded up $5.30 during trading hours on Wednesday, hitting $175.81. The stock had a trading volume of 2,035,291 shares, compared to its average volume of 1,521,140. The company's fifty day simple moving average is $183.68 and its 200 day simple moving average is $170.89. Discover Financial Services has a 12-month low of $119.31 and a 12-month high of $205.76. 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 has a market cap of $44.23 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.51 and a beta of 1.45.
Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS 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%. Equities research analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.
Discover Financial Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.59%. Discover Financial Services's dividend payout ratio is currently 17.54%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on DFS shares. Royal Bank of Canada raised their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. Truist Financial reduced their price objective on shares of 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. StockNews.com cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Friday, January 24th. UBS Group raised Discover Financial Services from a "neutral" rating to a "buy" rating and increased their price target for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, Barclays raised their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $192.40.
Get Our Latest Analysis on DFS
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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