Charles Schwab Investment Management Inc. Has $242.46 Million Stock Holdings in Discover Financial Services (NYSE:DFS)

Charles Schwab Investment Management Inc. raised its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,728,276 shares of the financial services provider's stock after buying an additional 7,751 shares during the period. Charles Schwab Investment Management Inc. owned about 0.69% of Discover Financial Services worth $242,460,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Elser Financial Planning Inc acquired a new stake in Discover Financial Services during the 2nd quarter worth approximately $91,044,000. Samlyn Capital LLC boosted its position in shares of Discover Financial Services by 368.0% in the second quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider's stock valued at $84,594,000 after acquiring an additional 508,504 shares during the period. Mizuho Securities USA LLC boosted its position in shares of Discover Financial Services by 1,272.0% in the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider's stock valued at $37,199,000 after acquiring an additional 245,829 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Discover Financial Services by 67.1% in the second quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider's stock valued at $62,606,000 after acquiring an additional 192,142 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Discover Financial Services during the third quarter worth about $21,169,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DFS shares. Royal Bank of Canada increased their target price on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a "sector perform" rating in a research report on Friday, October 18th. Wells Fargo & Company raised their price objective on Discover Financial Services from $152.00 to $160.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Evercore ISI upped their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Discover Financial Services from a "buy" rating to a "hold" rating in a report on Monday, November 4th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Discover Financial Services has a consensus rating of "Hold" and an average price target of $138.81.

Discover Financial Services Trading Up 2.5 %

Discover Financial Services stock traded up $4.38 during trading hours on Friday, hitting $179.29. The stock had a trading volume of 1,063,023 shares, compared to its average volume of 2,289,120. The business's 50 day simple moving average is $152.29 and its 200-day simple moving average is $137.73. Discover Financial Services has a one year low of $85.19 and a one year high of $188.26. The stock has a market cap of $45.01 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the business earned $2.59 EPS. On average, equities analysts predict that Discover Financial Services will post 13.34 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, November 21st. Discover Financial Services's payout ratio is presently 22.60%.

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.