Royal London Asset Management Ltd. Has $18.09 Million Stake in Discover Financial Services (NYSE:DFS)

Royal London Asset Management Ltd. increased its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 104,399 shares of the financial services provider's stock after buying an additional 1,690 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Discover Financial Services were worth $18,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Discover Financial Services by 0.8% during the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider's stock valued at $1,472,771,000 after purchasing an additional 80,601 shares in the last quarter. FMR LLC lifted its stake in Discover Financial Services by 8.0% in the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider's stock valued at $1,051,314,000 after buying an additional 558,227 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Discover Financial Services in the fourth quarter valued at approximately $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Discover Financial Services by 0.7% during the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Discover Financial Services by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,738,804 shares of the financial services provider's stock valued at $301,213,000 after acquiring an additional 10,528 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

DFS has been the subject of a number of research reports. Truist Financial lowered their target price on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a report on Friday, March 21st. Keefe, Bruyette & Woods increased their price objective on Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. 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. Wells Fargo & Company raised their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research note on Friday, January 24th. Finally, UBS Group raised shares of Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $192.40.

Discover Financial Services Stock Performance

Shares of DFS traded down $3.37 during midday trading on Wednesday, reaching $166.29. The stock had a trading volume of 2,933,930 shares, compared to its average volume of 1,418,432. The firm has a market cap of $41.84 billion, a PE ratio of 10.42, a P/E/G ratio of 1.51 and a beta of 1.45. The firm has a 50 day simple moving average of $185.84 and a 200-day simple moving average of $169.65. Discover Financial Services has a one year low of $119.31 and a one year high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted 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%. As a group, sell-side analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's payout ratio is 17.54%.

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.