Principal Financial Group Inc. Sells 3,550 Shares of Discover Financial Services (NYSE:DFS)

Principal Financial Group Inc. trimmed its stake in Discover Financial Services (NYSE:DFS - Free Report) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 291,425 shares of the financial services provider's stock after selling 3,550 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Discover Financial Services worth $50,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DFS. Blue Trust Inc. raised its stake in shares of Discover Financial Services by 115.7% during the 3rd quarter. Blue Trust Inc. now owns 1,234 shares of the financial services provider's stock worth $161,000 after purchasing an additional 662 shares in the last quarter. Raymond James & Associates raised its position in Discover Financial Services by 12.7% during the third quarter. Raymond James & Associates now owns 149,361 shares of the financial services provider's stock valued at $20,954,000 after acquiring an additional 16,863 shares in the last quarter. Foundations Investment Advisors LLC raised its position in Discover Financial Services by 16.3% during the third quarter. Foundations Investment Advisors LLC now owns 2,046 shares of the financial services provider's stock valued at $287,000 after acquiring an additional 286 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Discover Financial Services by 4.4% during the third quarter. Sequoia Financial Advisors LLC now owns 6,191 shares of the financial services provider's stock valued at $869,000 after acquiring an additional 263 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Discover Financial Services by 4.0% during the 3rd quarter. Signaturefd LLC now owns 7,309 shares of the financial services provider's stock valued at $1,025,000 after purchasing an additional 282 shares in the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Performance

DFS traded down $5.69 on Friday, hitting $194.21. 2,476,043 shares of the stock traded hands, compared to its average volume of 1,652,495. The firm has a market capitalization of $48.81 billion, a PE ratio of 12.17, a P/E/G ratio of 1.53 and a beta of 1.46. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The business has a fifty day moving average price of $186.51 and a two-hundred day moving average price of $162.43. Discover Financial Services has a 52 week low of $118.74 and a 52 week high of $205.76.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, research analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's payout ratio is presently 17.54%.

Wall Street Analyst Weigh In

DFS has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research report on Friday, January 24th. Evercore ISI lifted 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 research report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Discover Financial Services presently has a consensus rating of "Hold" and a consensus price target of $186.46.

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.