Discover Financial Services (NYSE:DFS) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Discover Financial Services (NYSE:DFS - Free Report) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 243,502 shares of the financial services provider's stock after selling 11,399 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Discover Financial Services worth $42,182,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in DFS. National Pension Service lifted its holdings in Discover Financial Services by 14.8% during the third quarter. National Pension Service now owns 439,756 shares of the financial services provider's stock worth $61,693,000 after buying an additional 56,814 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of 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 worth $16,202,000 after purchasing an additional 10,946 shares in the last quarter. Brookstone Capital Management acquired a new stake in Discover Financial Services in the fourth quarter worth about $282,000. Meyer Handelman Co. acquired a new position in shares of Discover Financial Services during the fourth quarter valued at about $239,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Discover Financial Services in the 3rd quarter worth approximately $2,415,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Trading Up 3.6 %

NYSE DFS traded up $7.06 on Wednesday, reaching $203.34. 1,860,502 shares of the company were exchanged, compared to its average volume of 1,626,959. Discover Financial Services has a fifty-two week low of $118.74 and a fifty-two week high of $205.76. The stock has a market capitalization of $51.10 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.60 and a beta of 1.46. The business's fifty day moving average price is $185.51 and its 200 day moving average price is $161.88. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Discover Financial Services will post 13.84 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio is currently 17.54%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DFS shares. Truist Financial raised their target price on Discover Financial Services from $233.00 to $262.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Royal Bank of Canada raised 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 note on Friday, January 24th. Evercore ISI boosted their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $186.46.

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.