Corient Private Wealth LLC Cuts Stock Holdings in Discover Financial Services (NYSE:DFS)

Corient Private Wealth LLC decreased its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 537,003 shares of the financial services provider's stock after selling 4,494 shares during the period. Corient Private Wealth LLC owned 0.21% of Discover Financial Services worth $93,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DFS. Apollon Wealth Management LLC increased its position in Discover Financial Services by 14.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,179 shares of the financial services provider's stock valued at $586,000 after purchasing an additional 513 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in shares of Discover Financial Services by 10.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,492 shares of the financial services provider's stock valued at $771,000 after buying an additional 523 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Discover Financial Services by 8.5% in the 3rd quarter. CIBC Asset Management Inc now owns 36,896 shares of the financial services provider's stock valued at $5,176,000 after buying an additional 2,880 shares in the last quarter. Empirical Finance LLC boosted its holdings in shares of Discover Financial Services by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 9,019 shares of the financial services provider's stock valued at $1,265,000 after buying an additional 157 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Discover Financial Services by 3.9% in the 3rd quarter. Natixis Advisors LLC now owns 170,825 shares of the financial services provider's stock valued at $23,965,000 after buying an additional 6,364 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company's stock.

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Discover Financial Services Stock Performance

NYSE DFS traded up $2.20 on Thursday, hitting $164.41. 1,337,094 shares of the company's stock traded hands, compared to its average volume of 1,405,702. 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 has a 1-year low of $119.31 and a 1-year high of $205.76. The firm's 50-day moving average price is $186.51 and its two-hundred day moving average price is $168.49. The firm has a market capitalization of $41.37 billion, a PE ratio of 10.30, a P/E/G ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings data 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 net margin of 17.29% and a return on equity of 26.18%. As a group, analysts expect that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

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. This represents a $2.80 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's payout ratio is 17.54%.

Analysts Set New Price Targets

A number of analysts have recently weighed in 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 company a "sector perform" rating in a report on Friday, January 24th. Truist Financial raised their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a "buy" rating in a report on Monday, January 27th. UBS Group upgraded shares of Discover Financial Services from a "neutral" rating to a "buy" rating and raised their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Barclays raised their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Discover Financial Services presently has an average rating of "Hold" and a consensus price target of $191.91.

Discover Financial Services 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.