Readystate Asset Management LP Decreases Holdings in Discover Financial Services (NYSE:DFS)

Readystate Asset Management LP cut its position in shares of Discover Financial Services (NYSE:DFS - Free Report) by 23.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,200 shares of the financial services provider's stock after selling 45,000 shares during the period. Discover Financial Services accounts for 0.4% of Readystate Asset Management LP's portfolio, making the stock its 27th largest holding. Readystate Asset Management LP owned 0.06% of Discover Financial Services worth $20,791,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DFS. DiNuzzo Private Wealth Inc. increased its position in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider's stock worth $26,000 after purchasing an additional 157 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Discover Financial Services during the 2nd quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Discover Financial Services during the 3rd quarter worth approximately $30,000. Y.D. More Investments Ltd increased its position in Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider's stock worth $29,000 after purchasing an additional 133 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Discover Financial Services by 72.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider's stock worth $30,000 after purchasing an additional 95 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Up 0.7 %

NYSE DFS traded up $1.26 on Thursday, hitting $177.71. 290,850 shares of the company were exchanged, compared to its average volume of 1,661,740. Discover Financial Services has a 12 month low of $96.46 and a 12 month high of $188.26. The company has a market cap of $44.62 billion, a PE ratio of 14.23, a PEG ratio of 1.14 and a beta of 1.45. The stock has a fifty day moving average of $159.10 and a 200-day moving average of $140.88. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the firm earned $2.59 earnings per share. As a group, analysts forecast that Discover Financial Services will post 13.34 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, November 21st. Discover Financial Services's payout ratio is currently 22.60%.

Wall Street Analyst Weigh In

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