Investment Management Corp of Ontario Sells 3,744 Shares of Discover Financial Services (NYSE:DFS)

Investment Management Corp of Ontario reduced its position in Discover Financial Services (NYSE:DFS - Free Report) by 10.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,884 shares of the financial services provider's stock after selling 3,744 shares during the period. Investment Management Corp of Ontario's holdings in Discover Financial Services were worth $4,333,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Eagle Bluffs Wealth Management LLC lifted its position in Discover Financial Services by 0.5% during the third 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. Venturi Wealth Management LLC lifted its position in Discover Financial Services by 27.4% during the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider's stock worth $44,000 after acquiring an additional 68 shares during the last quarter. Inlet Private Wealth LLC lifted its position in Discover Financial Services by 2.4% during the third quarter. Inlet Private Wealth LLC now owns 3,185 shares of the financial services provider's stock worth $447,000 after acquiring an additional 75 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in Discover Financial Services by 0.4% during the third quarter. First Trust Direct Indexing L.P. now owns 17,664 shares of the financial services provider's stock worth $2,478,000 after acquiring an additional 75 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its position in Discover Financial Services by 24.4% during the second quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider's stock worth $51,000 after acquiring an additional 76 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of NYSE DFS traded down $2.21 during midday trading on Wednesday, reaching $176.22. 218,107 shares of the company were exchanged, compared to its average volume of 1,665,071. The stock's 50-day moving average price is $158.30 and its 200-day moving average price is $140.63. The stock has a market cap of $44.24 billion, a P/E ratio of 14.39, a PEG ratio of 1.15 and a beta of 1.45. Discover Financial Services has a one year low of $94.00 and a one year high of $188.26. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.41. The firm had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same quarter in the previous year, the firm posted $2.59 earnings per share. On average, sell-side analysts anticipate that Discover Financial Services will post 13.34 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.59%. Discover Financial Services's payout ratio is presently 22.60%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DFS shares. Evercore ISI raised their price objective on shares of 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. StockNews.com cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a report on Monday, November 4th. Royal Bank of Canada raised their target price on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a "sector perform" rating in a report on Friday, October 18th. Finally, Wells Fargo & Company raised their target price on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Discover Financial Services currently has a consensus rating of "Hold" and an average target price of $138.81.

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.