Pinebridge Investments L.P. Sells 3,656 Shares of Discover Financial Services (NYSE:DFS)

Pinebridge Investments L.P. lowered its stake in shares of Discover Financial Services (NYSE:DFS - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,828 shares of the financial services provider's stock after selling 3,656 shares during the period. Pinebridge Investments L.P.'s holdings in Discover Financial Services were worth $10,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services in the fourth quarter valued at about $33,000. Flagship Wealth Advisors LLC bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $34,000. Bfsg LLC acquired a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $35,000. Grove Bank & Trust increased its stake in 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 in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in Discover Financial Services during the 4th quarter worth approximately $37,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DFS has been the subject of several research reports. 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. UBS Group upgraded Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Truist Financial increased their price objective on Discover Financial Services from $219.00 to $229.00 and gave the stock a "buy" rating in a report on Friday. Barclays boosted their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, TD Securities decreased their price target on shares of Discover Financial Services from $188.00 to $184.00 and set a "buy" rating for the company in a research note on Thursday. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Discover Financial Services has an average rating of "Hold" and a consensus target price of $188.91.

Discover Financial Services Stock Performance

Shares of DFS stock traded down $2.44 during trading on Friday, reaching $185.02. 1,546,838 shares of the company's stock were exchanged, compared to its average volume of 1,610,533. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm's fifty day moving average price is $169.86 and its 200-day moving average price is $174.05. Discover Financial Services has a twelve month low of $119.95 and a twelve month high of $205.76. The stock has a market capitalization of $46.55 billion, a PE ratio of 11.59, a PEG ratio of 1.51 and a beta of 1.20.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.33 by $0.92. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. The company had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.25 billion. As a group, sell-side analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

About Discover Financial Services

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.