Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,378 shares of the financial services provider's stock after acquiring an additional 30,624 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Discover Financial Services worth $69,610,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Discover Financial Services in the third quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Discover Financial Services in the fourth quarter valued at about $33,000. Flagship Wealth Advisors LLC acquired a new position in Discover Financial Services during the 4th quarter worth about $34,000. Grove Bank & Trust grew its holdings in Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock worth $35,000 after acquiring an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in Discover Financial Services in the 4th quarter valued at about $35,000. 86.94% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Barclays upped their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Truist Financial decreased their price objective on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. UBS Group upgraded Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Royal Bank of Canada raised 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. Finally, Wells Fargo & Company lifted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services has a consensus rating of "Hold" and a consensus target price of $192.40.
Read Our Latest Stock Analysis on Discover Financial Services
Discover Financial Services Trading Down 1.1 %
Discover Financial Services stock traded down $1.90 during mid-day trading on Tuesday, hitting $168.81. 1,203,010 shares of the company's stock were exchanged, compared to its average volume of 2,004,168. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $42.47 billion, a P/E ratio of 10.58, a PEG ratio of 1.51 and a beta of 1.45. The company's 50 day simple moving average is $184.07 and its 200-day simple moving average is $170.62.
Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, equities analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current year.
Discover Financial Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's dividend payout ratio is 17.54%.
Discover Financial Services Company Profile
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Free Report)
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.
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