Mirae Asset Global Investments Co. Ltd. Has $2.91 Million Holdings in Discover Financial Services (NYSE:DFS)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 23.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,867 shares of the financial services provider's stock after purchasing an additional 3,949 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Discover Financial Services were worth $2,906,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Axxcess Wealth Management LLC increased its stake in Discover Financial Services by 135.1% during the 1st quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider's stock worth $1,022,000 after purchasing an additional 4,478 shares in the last quarter. Gabelli Funds LLC acquired a new position in Discover Financial Services during the 1st quarter worth approximately $983,000. William B. Walkup & Associates Inc. acquired a new position in Discover Financial Services during the 2nd quarter worth approximately $4,835,000. Janus Henderson Group PLC boosted its position in Discover Financial Services by 61.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider's stock worth $8,197,000 after acquiring an additional 23,702 shares during the last quarter. Finally, Forge First Asset Management Inc. acquired a new position in Discover Financial Services during the 1st quarter worth approximately $13,341,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Performance

DFS stock traded up $3.70 during midday trading on Wednesday, reaching $154.44. 1,302,402 shares of the company were exchanged, compared to its average volume of 1,623,814. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The business has a 50-day moving average price of $139.87 and a two-hundred day moving average price of $132.39. Discover Financial Services has a one year low of $81.09 and a one year high of $157.06. The firm has a market capitalization of $38.73 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The firm had revenue of $5.91 billion during the quarter, compared to analysts' expectations of $4.36 billion. During the same period in the previous year, the business posted $2.59 earnings per share. Equities research analysts forecast that Discover Financial Services will post 13.15 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services's dividend payout ratio is currently 31.93%.

Analysts Set New Price Targets

DFS has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Discover Financial Services from $132.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods upped their price target on Discover Financial Services from $145.00 to $160.00 and gave the stock an "outperform" rating in a research report on Monday, July 8th. BMO Capital Markets upped their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a "market perform" rating in a research report on Friday, July 19th. Evercore ISI upped their price target on Discover Financial Services from $156.00 to $163.00 and gave the stock an "in-line" rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on Discover Financial Services from $152.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $136.53.

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.