New Age Alpha Advisors LLC Invests $11.13 Million in Discover Financial Services (NYSE:DFS)

New Age Alpha Advisors LLC acquired a new stake in Discover Financial Services (NYSE:DFS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 64,245 shares of the financial services provider's stock, valued at approximately $11,129,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Discover Financial Services during the fourth quarter worth about $724,720,000. AssuredPartners Investment Advisors LLC bought a new stake in Discover Financial Services in the fourth quarter valued at approximately $215,000. NEOS Investment Management LLC raised its holdings in Discover Financial Services by 30.9% in the fourth quarter. NEOS Investment Management LLC now owns 15,361 shares of the financial services provider's stock worth $2,661,000 after purchasing an additional 3,630 shares during the period. Mint Tower Capital Management B.V. boosted its position in shares of Discover Financial Services by 354.2% during the fourth quarter. Mint Tower Capital Management B.V. now owns 12,708 shares of the financial services provider's stock worth $2,201,000 after purchasing an additional 17,708 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Discover Financial Services by 8.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 395,378 shares of the financial services provider's stock valued at $69,610,000 after buying an additional 30,624 shares during the period. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Discover Financial Services stock traded down $0.91 during mid-day trading on Tuesday, hitting $169.79. 833,197 shares of the company's stock traded hands, compared to its average volume of 1,514,882. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The stock has a market cap of $42.72 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 1.51 and a beta of 1.45. The firm has a 50 day simple moving average of $184.07 and a two-hundred day simple moving average of $170.62. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03.

Remove Ads

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

Discover Financial Services Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.65%. Discover Financial Services's dividend payout ratio (DPR) is 17.54%.

Analyst Ratings Changes

Several research analysts have weighed in on DFS shares. Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Royal Bank of Canada increased their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their target price on Discover Financial Services from $146.00 to $169.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Barclays lifted their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Finally, StockNews.com cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a 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 company. According to MarketBeat.com, Discover Financial Services has an average rating of "Hold" and an average target price of $192.40.

Discover Financial Services 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.