Intech Investment Management LLC Buys 6,503 Shares of Discover Financial Services (NYSE:DFS)

Intech Investment Management LLC increased its position in Discover Financial Services (NYSE:DFS - Free Report) by 46.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,419 shares of the financial services provider's stock after buying an additional 6,503 shares during the quarter. Intech Investment Management LLC's holdings in Discover Financial Services were worth $3,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Discover Financial Services during the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new stake in Discover Financial Services in the 4th quarter worth about $33,000. Flagship Wealth Advisors LLC bought a new position in Discover Financial Services during the 4th quarter valued at about $34,000. Grove Bank & Trust boosted its holdings in shares of Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 89 shares during the last quarter. Finally, Bfsg LLC bought a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $35,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Trading Up 3.3 %

DFS traded up $5.39 during trading on Monday, reaching $170.22. The company had a trading volume of 1,674,620 shares, compared to its average volume of 1,411,281. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The stock has a market cap of $42.83 billion, a P/E ratio of 10.67, a PEG ratio of 1.51 and a beta of 1.45. The business has a 50 day simple moving average of $186.18 and a 200-day simple moving average of $169.10.

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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 EPS for the quarter, topping 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 anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's dividend payout ratio is currently 17.54%.

Analyst Upgrades and Downgrades

DFS has been the subject of a number of recent research reports. StockNews.com downgraded Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Truist Financial decreased their target price on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a report on Friday. Barclays boosted their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Finally, Wells Fargo & Company lifted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.