Allspring Global Investments Holdings LLC Sells 5,508 Shares of Discover Financial Services (NYSE:DFS)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,439 shares of the financial services provider's stock after selling 5,508 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Discover Financial Services were worth $4,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DFS. UMB Bank n.a. grew its holdings in Discover Financial Services by 0.6% during 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 last quarter. Stratos Wealth Partners LTD. grew its stake in Discover Financial Services by 0.9% in 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 buying an additional 57 shares during the last quarter. Invst LLC raised its holdings in Discover Financial Services by 0.9% in the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider's stock worth $1,018,000 after acquiring an additional 62 shares during the period. CTC Alternative Strategies Ltd. lifted its position in Discover Financial Services by 3.2% during the 3rd quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider's stock worth $287,000 after acquiring an additional 63 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC lifted its position in Discover Financial Services by 0.5% during the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider's stock worth $2,034,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 86.94% of the company's stock.

Discover Financial Services Price Performance

NYSE DFS traded down $5.69 during trading on Friday, reaching $194.21. 2,476,043 shares of the company traded hands, compared to its average volume of 1,652,495. Discover Financial Services has a 1-year low of $118.74 and a 1-year high of $205.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The stock's 50 day moving average price is $186.51 and its two-hundred day moving average price is $162.43. The company has a market cap of $48.81 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 1.53 and a beta of 1.46.

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

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio is currently 17.54%.

Analysts Set New Price Targets

DFS has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted 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. Evercore ISI lifted their price target on Discover Financial Services from $156.00 to $163.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a research report on Friday, January 24th. UBS Group raised shares of 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. Finally, Truist Financial increased 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. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $186.46.

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.