Kovitz Investment Group Partners LLC Purchases 815 Shares of Discover Financial Services (NYSE:DFS)

Kovitz Investment Group Partners LLC boosted its position in shares of Discover Financial Services (NYSE:DFS) by 32.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,299 shares of the financial services provider’s stock after buying an additional 815 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Discover Financial Services were worth $299,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Discover Financial Services by 3.9% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,869 shares of the financial services provider’s stock worth $909,000 after purchasing an additional 298 shares during the last quarter. Kentucky Retirement Systems raised its holdings in Discover Financial Services by 6.1% during the 4th quarter. Kentucky Retirement Systems now owns 17,970 shares of the financial services provider’s stock worth $2,077,000 after purchasing an additional 1,031 shares during the last quarter. Forefront Wealth Management Inc. bought a new stake in Discover Financial Services during the 4th quarter worth about $3,262,000. Capital Asset Advisory Services LLC raised its holdings in Discover Financial Services by 2.3% during the 4th quarter. Capital Asset Advisory Services LLC now owns 4,848 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 110 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC acquired a new position in shares of Discover Financial Services during the 4th quarter worth about $6,814,000. 84.95% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO John Greene sold 4,443 shares of the stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $127.95, for a total value of $568,481.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Shifra Kolsky sold 800 shares of the stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $127.00, for a total value of $101,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,892 shares of company stock worth $1,747,661. Company insiders own 0.59% of the company’s stock.

NYSE:DFS traded up $1.71 during trading hours on Tuesday, reaching $118.14. 8,849 shares of the stock were exchanged, compared to its average volume of 1,819,521. Discover Financial Services has a twelve month low of $94.91 and a twelve month high of $135.69. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50 day moving average of $114.72 and a 200 day moving average of $117.39. The stock has a market cap of $33.66 billion, a PE ratio of 6.55, a PEG ratio of 0.14 and a beta of 1.57.

Discover Financial Services (NYSE:DFSGet Rating) last released its quarterly earnings results on Wednesday, January 19th. The financial services provider reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.03. Discover Financial Services had a return on equity of 45.63% and a net margin of 41.22%. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the firm posted $2.59 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Discover Financial Services will post 14.19 earnings per share for the current year.

Several equities analysts have recently issued reports on the company. Piper Sandler upgraded Discover Financial Services from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $142.00 in a research report on Monday, January 24th. They noted that the move was a valuation call. Zacks Investment Research upgraded Discover Financial Services from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Tuesday, January 4th. JPMorgan Chase & Co. decreased their target price on Discover Financial Services from $150.00 to $142.00 and set an “overweight” rating for the company in a research report on Wednesday, January 19th. Wolfe Research decreased their target price on Discover Financial Services from $160.00 to $144.00 in a research report on Thursday, March 17th. Finally, Credit Suisse Group boosted their target price on Discover Financial Services from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, January 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $138.05.

Discover Financial Services Company Profile (Get Rating)

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; private student loans, 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.

Further Reading

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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