California Public Employees Retirement System Has $120.77 Million Position in Discover Financial Services (NYSE:DFS)

California Public Employees Retirement System boosted its stake in shares of Discover Financial Services (NYSE:DFS - Free Report) by 42.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 697,169 shares of the financial services provider's stock after acquiring an additional 206,348 shares during the quarter. California Public Employees Retirement System owned about 0.28% of Discover Financial Services worth $120,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. D.A. Davidson & CO. boosted its position in Discover Financial Services by 5.7% during the third quarter. D.A. Davidson & CO. now owns 10,029 shares of the financial services provider's stock worth $1,407,000 after acquiring an additional 539 shares during the last quarter. Townsquare Capital LLC raised its holdings in Discover Financial Services by 4.5% in the third quarter. Townsquare Capital LLC now owns 4,769 shares of the financial services provider's stock valued at $669,000 after acquiring an additional 204 shares in the last quarter. Bridgewater Associates LP acquired a new position in shares of Discover Financial Services in the 3rd quarter worth approximately $500,000. Public Sector Pension Investment Board raised its position in shares of Discover Financial Services by 3.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 43,825 shares of the financial services provider's stock worth $6,148,000 after purchasing an additional 1,300 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Discover Financial Services by 2.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 57,400 shares of the financial services provider's stock worth $8,053,000 after purchasing an additional 1,400 shares during the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

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Discover Financial Services Stock Up 3.1 %

Shares of NYSE 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 firm's 50-day moving average price is $183.68 and its two-hundred day moving average price is $170.89. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's payout ratio is 17.54%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com lowered Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Friday, January 24th. Wells Fargo & Company raised their target price 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. UBS Group upgraded shares of Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Royal Bank of Canada lifted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research report on Friday, January 24th. Finally, Truist Financial reduced their target price on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $192.40.

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.