Cinctive Capital Management LP increased its stake in Discover Financial Services (NYSE:DFS - Free Report) by 149.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,265 shares of the financial services provider's stock after acquiring an additional 124,742 shares during the quarter. Discover Financial Services accounts for approximately 1.8% of Cinctive Capital Management LP's portfolio, making the stock its 4th largest position. Cinctive Capital Management LP owned approximately 0.08% of Discover Financial Services worth $36,078,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Discover Financial Services during the fourth quarter valued at approximately $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Discover Financial Services during the 4th quarter valued at $351,766,000. Vanguard Group Inc. increased its stake in Discover Financial Services by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider's stock valued at $5,377,961,000 after purchasing an additional 290,937 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Discover Financial Services during the fourth quarter worth $39,067,000. Finally, Raymond James Financial Inc. bought a new position in shares of Discover Financial Services in the fourth quarter valued at $38,489,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
DFS has been the topic of a number of analyst reports. 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 report on Friday, January 24th. Royal Bank of Canada increased their price objective on Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. StockNews.com cut Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Seven equities research 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, the company currently has an average rating of "Hold" and an average target price of $192.40.
Check Out Our Latest Stock Report on Discover Financial Services
Discover Financial Services Stock Performance
DFS traded up $0.78 during trading on Monday, hitting $147.82. 1,392,027 shares of the company traded hands, compared to its average volume of 2,102,589. The firm has a market cap of $37.19 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a one year low of $119.31 and a one year high of $205.76. The stock's fifty day moving average is $181.35 and its 200 day moving average is $171.43.
Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. As a group, equities analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.
Discover Financial Services Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's payout ratio is presently 17.54%.
About Discover Financial Services
(
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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