Sumitomo Mitsui Trust Group Inc. Sells 14,665 Shares of Discover Financial Services (NYSE:DFS)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Discover Financial Services (NYSE:DFS - Free Report) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 558,688 shares of the financial services provider's stock after selling 14,665 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Discover Financial Services worth $78,378,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DFS. National Pension Service boosted its holdings in shares of Discover Financial Services by 14.8% during the third quarter. National Pension Service now owns 439,756 shares of the financial services provider's stock worth $61,693,000 after purchasing an additional 56,814 shares during the period. Axxcess Wealth Management LLC lifted its holdings in Discover Financial Services by 135.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider's stock worth $1,022,000 after buying an additional 4,478 shares during the period. Gabelli Funds LLC purchased a new stake in Discover Financial Services in the 1st quarter worth approximately $983,000. William B. Walkup & Associates Inc. bought a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $4,835,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Discover Financial Services during the third quarter valued at approximately $2,415,000. Institutional investors own 86.94% of the company's stock.

Discover Financial Services Stock Up 1.3 %

Shares of NYSE DFS traded up $2.19 during midday trading on Friday, hitting $176.02. The stock had a trading volume of 3,174,471 shares, compared to its average volume of 1,687,689. The business's 50 day moving average is $146.95 and its 200-day moving average is $135.58. Discover Financial Services has a 52 week low of $84.03 and a 52 week high of $188.26. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The company has a market cap of $44.19 billion, a P/E ratio of 14.21, a PEG ratio of 1.13 and a beta of 1.41.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.41. The business had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same period in the prior year, the firm posted $2.59 EPS. As a group, analysts predict that Discover Financial Services will post 13.22 EPS for the current year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors 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 annualized dividend and a yield of 1.59%. Discover Financial Services's payout ratio is 22.60%.

Analysts Set New Price Targets

A number of brokerages recently commented on DFS. StockNews.com lowered Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. 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 research report on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, July 19th. Finally, BMO Capital Markets upped their target price on Discover Financial Services from $115.00 to $119.00 and gave the stock a "market perform" rating in a report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.