Bridgewater Associates LP Has $997,000 Stake in Discover Financial Services (NYSE:DFS)

Bridgewater Associates LP boosted its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 61.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,757 shares of the financial services provider's stock after purchasing an additional 2,194 shares during the period. Bridgewater Associates LP's holdings in Discover Financial Services were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Discover Financial Services by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider's stock valued at $5,377,961,000 after acquiring an additional 290,937 shares during the period. FMR LLC boosted its holdings in shares of Discover Financial Services by 0.8% during the 4th quarter. FMR LLC now owns 7,553,016 shares of the financial services provider's stock worth $1,308,409,000 after buying an additional 59,154 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Discover Financial Services by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider's stock worth $1,082,826,000 after buying an additional 165,589 shares during the period. Norges Bank bought a new stake in shares of Discover Financial Services during the 4th quarter worth about $724,720,000. Finally, Invesco Ltd. boosted its holdings in shares of Discover Financial Services by 38.5% during the 4th quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider's stock worth $515,268,000 after buying an additional 826,287 shares during the period. Institutional investors own 86.94% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on DFS. JPMorgan Chase & Co. dropped their price objective on shares of Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. StockNews.com cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th. TD Securities dropped their price objective on shares of Discover Financial Services from $188.00 to $184.00 and set a "buy" rating for the company in a research note on Thursday. 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 report on Friday, March 21st. Finally, Barclays raised their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $188.00.

Discover Financial Services Stock Up 4.5 %

Discover Financial Services stock traded up $7.97 during midday trading on Thursday, reaching $186.66. The stock had a trading volume of 1,501,725 shares, compared to its average volume of 1,600,770. Discover Financial Services has a 12 month low of $119.95 and a 12 month high of $205.76. The company has a market capitalization of $46.96 billion, a P/E ratio of 11.70, a PEG ratio of 1.51 and a beta of 1.20. The company has a fifty day moving average price of $170.27 and a two-hundred day moving average price of $173.02. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 EPS for the quarter, beating analysts' consensus estimates of $3.33 by $0.92. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.25 billion. As a group, equities analysts expect that Discover Financial Services will post 13.88 EPS for the current fiscal year.

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.