Goldman Sachs Group Inc. cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 13.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,880,088 shares of the financial services provider’s stock after selling 303,577 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Discover Financial Services were worth $217,263,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. PSI Advisors LLC acquired a new stake in shares of Discover Financial Services during the 3rd quarter worth approximately $25,000. CVA Family Office LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $34,000. Widmann Financial Services Inc. acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $35,000. Bellwether Advisors LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $37,000. Finally, Benjamin Edwards Inc. boosted its position in shares of Discover Financial Services by 43.9% during the 4th quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 104 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Discover Financial Services from $144.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. Wolfe Research lowered shares of Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 target price on the stock. in a research report on Thursday. JPMorgan Chase & Co. cut their target price on shares of Discover Financial Services from $150.00 to $142.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Discover Financial Services from $145.00 to $150.00 in a research report on Friday, April 29th. Finally, StockNews.com began coverage on shares of Discover Financial Services in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $138.76.
NYSE DFS traded up $3.55 during mid-day trading on Friday, reaching $104.90. 1,582,553 shares of the stock were exchanged, compared to its average volume of 1,565,017. Discover Financial Services has a one year low of $98.38 and a one year high of $135.69. The stock has a 50 day simple moving average of $111.45 and a 200-day simple moving average of $115.52. The stock has a market cap of $29.47 billion, a P/E ratio of 6.19, a P/E/G ratio of 0.24 and a beta of 1.45. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.26 and a quick ratio of 1.26.
Discover Financial Services (NYSE:DFS – Get Rating) last announced its earnings results on Wednesday, April 27th. The financial services provider reported $4.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.64. Discover Financial Services had a net margin of 38.42% and a return on equity of 41.57%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the firm earned $5.04 earnings per share. Discover Financial Services’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Discover Financial Services will post 14.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Investors of record on Thursday, May 26th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, May 25th. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.50. Discover Financial Services’s dividend payout ratio (DPR) is currently 11.80%.
About Discover Financial Services (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.
- Get a free copy of the StockNews.com research report on Discover Financial Services (DFS)
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