Discover Financial Services (NYSE:DFS) Shares Sold by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC cut its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,407 shares of the financial services provider's stock after selling 2,407 shares during the quarter. Schrum Private Wealth Management LLC's holdings in Discover Financial Services were worth $417,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Discover Financial Services in the 4th quarter worth approximately $38,489,000. Arizona State Retirement System raised its holdings in shares of Discover Financial Services by 1.6% in the fourth quarter. Arizona State Retirement System now owns 72,924 shares of the financial services provider's stock worth $12,633,000 after buying an additional 1,128 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Discover Financial Services in the fourth quarter worth $209,000. Atria Investments Inc lifted its stake in shares of Discover Financial Services by 10.9% during the fourth quarter. Atria Investments Inc now owns 14,177 shares of the financial services provider's stock worth $2,456,000 after buying an additional 1,394 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Discover Financial Services by 17.3% during the fourth quarter. Assetmark Inc. now owns 677 shares of the financial services provider's stock valued at $117,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company's stock.

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Discover Financial Services Price Performance

NYSE DFS traded down $5.29 during trading hours on Friday, reaching $167.38. The company's stock had a trading volume of 5,501,037 shares, compared to its average volume of 1,355,878. The firm has a market capitalization of $42.11 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 1.51 and a beta of 1.45. The company's 50-day moving average is $189.03 and its two-hundred day moving average is $167.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. Discover Financial Services has a 1-year low of $119.31 and a 1-year high of $205.76.

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

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.67%. Discover Financial Services's payout ratio is currently 17.54%.

Analysts Set New Price Targets

A number of analysts have commented on DFS shares. JPMorgan Chase & Co. lifted their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. StockNews.com cut Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Wells Fargo & Company raised their price target on shares of 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. Finally, Royal Bank of Canada lifted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research note on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $191.91.

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.