Canoe Financial LP Sells 92,815 Shares of Discover Financial Services (NYSE:DFS)

Canoe Financial LP trimmed its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 528,267 shares of the financial services provider's stock after selling 92,815 shares during the period. Canoe Financial LP owned about 0.21% of Discover Financial Services worth $91,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in Discover Financial Services by 25.8% during the 2nd quarter. Renaissance Technologies LLC now owns 225,600 shares of the financial services provider's stock valued at $29,511,000 after acquiring an additional 46,300 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Discover Financial Services by 5.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,472 shares of the financial services provider's stock valued at $1,108,000 after purchasing an additional 421 shares in the last quarter. Amalgamated Bank lifted its position in shares of Discover Financial Services by 3.2% during the second quarter. Amalgamated Bank now owns 62,428 shares of the financial services provider's stock worth $8,166,000 after purchasing an additional 1,909 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Discover Financial Services by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,853 shares of the financial services provider's stock worth $4,034,000 after purchasing an additional 3,389 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Discover Financial Services by 189.2% in the second quarter. Intech Investment Management LLC now owns 38,373 shares of the financial services provider's stock valued at $5,020,000 after buying an additional 25,103 shares during the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on DFS shares. Royal Bank of Canada increased their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a "sector perform" rating in a report on Friday, October 18th. Barclays upgraded Discover Financial Services from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $137.00 to $186.00 in a research note on Monday, January 6th. UBS Group upgraded shares of Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their target price for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Truist Financial began coverage on shares of Discover Financial Services in a research report on Tuesday, January 7th. They issued a "buy" rating and a $233.00 price target on the stock. Finally, Evercore ISI boosted their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $164.75.

Discover Financial Services Stock Up 1.2 %

NYSE:DFS traded up $2.13 during trading hours on Friday, hitting $187.17. 1,610,061 shares of the company's stock traded hands, compared to its average volume of 1,046,423. The firm has a market cap of $47.04 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.99 and a beta of 1.46. Discover Financial Services has a twelve month low of $96.46 and a twelve month high of $189.27. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.10. The stock's fifty day moving average price is $176.94 and its two-hundred day moving average price is $152.41.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.41. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a return on equity of 22.08% and a net margin of 13.78%. During the same period last year, the company earned $2.59 earnings per share. On average, research analysts expect that Discover Financial Services will post 14.17 earnings per share for the current fiscal year.

About Discover Financial Services

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.