Prudential PLC Cuts Position in Discover Financial Services (NYSE:DFS)

Prudential PLC trimmed its stake in Discover Financial Services (NYSE:DFS - Free Report) by 12.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 42,761 shares of the financial services provider's stock after selling 5,831 shares during the period. Prudential PLC's holdings in Discover Financial Services were worth $7,407,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Discover Financial Services in the 3rd quarter valued at about $30,000. Benjamin Edwards Inc. boosted its stake in shares of Discover Financial Services by 465.3% in the third quarter. Benjamin Edwards Inc. now owns 10,249 shares of the financial services provider's stock valued at $1,438,000 after purchasing an additional 8,436 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Discover Financial Services by 3.4% in the third quarter. Janus Henderson Group PLC now owns 36,738 shares of the financial services provider's stock valued at $5,155,000 after purchasing an additional 1,200 shares in the last quarter. IHT Wealth Management LLC increased its stake in Discover Financial Services by 12.5% during the 3rd quarter. IHT Wealth Management LLC now owns 2,610 shares of the financial services provider's stock worth $364,000 after buying an additional 290 shares during the period. Finally, Royal London Asset Management Ltd. lifted its holdings in Discover Financial Services by 1.6% during the 3rd quarter. Royal London Asset Management Ltd. now owns 102,709 shares of the financial services provider's stock worth $14,409,000 after buying an additional 1,592 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

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Discover Financial Services Stock Performance

Shares of DFS stock traded down $14.75 during mid-day trading on Thursday, hitting $156.10. 548,731 shares of the stock were exchanged, compared to its average volume of 1,572,500. The stock's fifty day simple moving average is $177.04 and its two-hundred day simple moving average is $171.56. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a 12-month low of $119.31 and a 12-month high of $205.76. The stock has a market capitalization of $39.28 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 1.51 and a beta of 1.20.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate 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, analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The business 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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's payout ratio is currently 17.54%.

Wall Street Analysts Forecast Growth

DFS has been the topic of several analyst reports. Barclays increased their price objective 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. Royal Bank of Canada boosted their price objective on 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 raised shares of Discover Financial Services from a "neutral" rating to a "buy" rating and raised their target price for the company from $150.00 to $239.00 in a report on Monday, January 13th. Truist Financial lowered their price target on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services has an average rating of "Hold" and a consensus target price of $188.40.

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.