Point72 Asset Management L.P. Has $42.10 Million Stock Position in Discover Financial Services (NYSE:DFS)

Point72 Asset Management L.P. lessened its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 37.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 300,110 shares of the financial services provider's stock after selling 178,489 shares during the period. Point72 Asset Management L.P. owned 0.12% of Discover Financial Services worth $42,102,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC grew its holdings in Discover Financial Services by 8.0% during the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider's stock worth $1,051,314,000 after acquiring an additional 558,227 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Discover Financial Services by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider's stock worth $257,391,000 after acquiring an additional 12,255 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Discover Financial Services by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider's stock worth $242,460,000 after acquiring an additional 7,751 shares during the period. Cooke & Bieler LP grew its holdings in Discover Financial Services by 5.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,281,950 shares of the financial services provider's stock worth $167,692,000 after acquiring an additional 62,595 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of Discover Financial Services by 6.7% in the 2nd quarter. Hsbc Holdings PLC now owns 1,181,333 shares of the financial services provider's stock valued at $154,064,000 after buying an additional 73,902 shares during the period. Institutional investors and hedge funds own 86.94% of the company's stock.

Discover Financial Services Stock Up 0.5 %

NYSE:DFS traded up $0.90 on Thursday, hitting $177.35. 1,301,873 shares of the company's stock were exchanged, compared to its average volume of 1,666,217. The firm has a 50-day moving average price of $159.88 and a 200-day moving average price of $141.13. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. Discover Financial Services has a 52 week low of $96.46 and a 52 week high of $188.26. The company has a market cap of $44.53 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, topping the consensus estimate of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The firm had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $4.36 billion. During the same period in the previous year, the firm posted $2.59 EPS. As a group, analysts expect that Discover Financial Services will post 13.34 EPS for the current fiscal 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 $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.58%. Discover Financial Services's payout ratio is 22.60%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DFS. Evercore ISI boosted their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a "sector perform" rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price target on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Discover Financial Services from a "buy" rating to a "hold" rating in a report on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Discover Financial Services currently has an average rating of "Hold" and an average target price of $138.81.

Discover Financial Services Company 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.