Discover Financial Services (NYSE:DFS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,165,291 shares of the financial services provider's stock after selling 15,494 shares during the period. Envestnet Asset Management Inc. owned approximately 0.46% of Discover Financial Services worth $201,863,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hemington Wealth Management boosted its stake in shares of Discover Financial Services by 11.0% in the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider's stock valued at $87,000 after buying an additional 50 shares during the period. UMB Bank n.a. lifted its stake in 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 worth $1,602,000 after acquiring an additional 56 shares during the last quarter. 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 worth $1,067,000 after acquiring an additional 57 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Discover Financial Services by 4.2% in 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 during the last quarter. Finally, Invst LLC raised its holdings in shares of Discover Financial Services by 0.9% in the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider's stock valued at $1,018,000 after purchasing an additional 62 shares in the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada increased their target price 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. JPMorgan Chase & Co. dropped their price objective on Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating on the stock in a report on Tuesday. Wells Fargo & Company raised their target price 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. StockNews.com downgraded Discover Financial Services from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Finally, Barclays raised their price objective 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. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services currently has an average rating of "Hold" and an average price target of $188.40.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock traded down $1.64 during trading on Friday, reaching $156.98. The company's stock had a trading volume of 1,581,144 shares, compared to its average volume of 1,579,890. The company has a 50-day moving average price of $175.40 and a two-hundred day moving average price of $171.86. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The firm has a market cap of $39.50 billion, a PE ratio of 9.84, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS 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, analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio is presently 17.54%.

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.