140,900 Shares in Discover Financial Services (NYSE:DFS) Bought by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT acquired a new stake in shares of Discover Financial Services (NYSE:DFS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 140,900 shares of the financial services provider's stock, valued at approximately $24,408,000. Discover Financial Services comprises about 1.7% of Discovery Capital Management LLC CT's portfolio, making the stock its 20th largest holding. Discovery Capital Management LLC CT owned about 0.06% of Discover Financial Services at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Discover Financial Services during the 4th quarter valued at $38,489,000. Nomura Asset Management Co. Ltd. raised its position in Discover Financial Services by 10.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider's stock valued at $16,202,000 after buying an additional 10,946 shares during the period. Brookstone Capital Management purchased a new stake in Discover Financial Services in the 4th quarter worth about $282,000. Meyer Handelman Co. acquired a new stake in Discover Financial Services during the 4th quarter worth about $239,000. Finally, Mechanics Bank Trust Department purchased a new position in Discover Financial Services during the 4th quarter valued at about $234,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Performance

DFS stock traded down $14.79 during midday trading on Thursday, hitting $161.15. 6,114,280 shares of the company traded hands, compared to its average volume of 1,542,197. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76. The stock has a market capitalization of $40.55 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The business has a 50 day simple moving average of $183.24 and a 200-day simple moving average of $170.92.

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Discover Financial Services (NYSE:DFS - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. As a group, equities research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.74%. Discover Financial Services's dividend payout ratio (DPR) is presently 17.54%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DFS. Truist Financial reduced their price target on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Barclays lifted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Royal Bank of Canada upped their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. StockNews.com cut Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their price target on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Discover Financial Services presently has a consensus rating of "Hold" and an average target price of $192.40.

Discover Financial Services Company Profile

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.