Arrowstreet Capital Limited Partnership Sells 237,118 Shares of Discover Financial Services (NYSE:DFS)

Arrowstreet Capital Limited Partnership lowered its stake in shares of Discover Financial Services (NYSE:DFS - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,871,271 shares of the financial services provider's stock after selling 237,118 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.74% of Discover Financial Services worth $324,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Hemington Wealth Management boosted its holdings in Discover Financial Services by 11.0% in the fourth quarter. Hemington Wealth Management now owns 503 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 50 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Discover Financial Services by 0.6% in the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider's stock valued at $1,602,000 after purchasing an additional 56 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Discover Financial Services by 0.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider's stock valued at $1,067,000 after purchasing an additional 57 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in Discover Financial Services by 4.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider's stock valued at $244,000 after purchasing an additional 57 shares in the last quarter. Finally, Invst LLC increased its stake in Discover Financial Services by 0.9% during the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider's stock worth $1,018,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 86.94% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have recently weighed in on DFS. Royal Bank of Canada boosted their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a report on Friday, January 24th. Keefe, Bruyette & Woods raised their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Wells Fargo & Company lifted their price target on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research note on Friday, January 24th. UBS Group raised Discover Financial Services from a "neutral" rating to a "buy" rating and upped their price target for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $192.40.

Discover Financial Services Price Performance

Shares of DFS stock traded down $0.38 on Tuesday, hitting $170.32. 1,709,694 shares of the company's stock were exchanged, compared to its average volume of 1,518,183. The stock has a market cap of $42.85 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The company has a 50 day moving average of $184.07 and a 200 day moving average of $170.62. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, equities research analysts predict that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's payout ratio is currently 17.54%.

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.