Magnetar Financial LLC trimmed its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 463,576 shares of the financial services provider's stock after selling 107,467 shares during the period. Discover Financial Services comprises 1.9% of Magnetar Financial LLC's investment portfolio, making the stock its 4th biggest holding. Magnetar Financial LLC owned approximately 0.18% of Discover Financial Services worth $80,305,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Discover Financial Services in the third quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $33,000. Flagship Wealth Advisors LLC purchased a new position in shares of Discover Financial Services during the 4th quarter worth approximately $34,000. Grove Bank & Trust raised its position 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 worth $35,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in Discover Financial Services during the 4th quarter valued at $35,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.
Discover Financial Services Stock Up 3.3 %
NYSE DFS traded up $5.39 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 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. The firm has a 50-day moving average of $186.18 and a 200-day moving average of $169.10. The firm has a market capitalization of $42.83 billion, a PE ratio of 10.67, a P/E/G ratio of 1.51 and a beta of 1.45.
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 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 research 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 $0.70 dividend. This represents a $2.80 annualized dividend 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 (DPR) is 17.54%.
Analyst Ratings Changes
DFS has been the topic of a number of analyst reports. Royal Bank of Canada increased their price objective on 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. StockNews.com cut Discover Financial Services from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Truist Financial cut their price objective on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a report on Friday. Wells Fargo & Company increased 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 note on Friday, January 24th. Finally, Barclays boosted their price objective 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. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $192.40.
Check Out Our Latest Report on Discover Financial Services
Discover Financial Services Company Profile
(
Free Report)
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.
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