Discover Financial Services (NYSE:DFS) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co cut its stake in shares of Discover Financial Services (NYSE:DFS - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,457 shares of the financial services provider's stock after selling 4,664 shares during the period. Elo Mutual Pension Insurance Co's holdings in Discover Financial Services were worth $3,024,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Discover Financial Services in the 4th quarter valued at $38,489,000. Nomura Asset Management Co. Ltd. boosted its holdings in Discover Financial Services by 10.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider's stock valued at $16,202,000 after purchasing an additional 10,946 shares in the last quarter. Brookstone Capital Management purchased a new position in shares of Discover Financial Services during the 4th quarter worth approximately $282,000. Meyer Handelman Co. acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $239,000. Finally, Mechanics Bank Trust Department purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $234,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 0.8 %

Shares of DFS stock traded down $1.37 on Tuesday, hitting $169.33. The stock had a trading volume of 1,243,599 shares, compared to its average volume of 1,516,542. The stock's 50 day moving average is $184.07 and its 200-day moving average is $170.62. The firm has a market capitalization of $42.60 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.

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Discover Financial Services (NYSE:DFS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 26.18% and a net margin of 17.29%. As a group, research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.65%. Discover Financial Services's payout ratio is 17.54%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Friday, January 24th. UBS Group upgraded shares of Discover Financial Services from a "neutral" rating to a "buy" rating and upped their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods boosted their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company raised their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Discover Financial Services has an average 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.