Rathbones Group PLC increased its stake in shares of Discover Financial Services (NYSE:DFS – Free Report) by 21.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 468,368 shares of the financial services provider’s stock after purchasing an additional 82,234 shares during the quarter. Rathbones Group PLC owned approximately 0.19% of Discover Financial Services worth $40,575,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in DFS. Carmichael Hill & Associates Inc. bought a new stake in Discover Financial Services in the 2nd quarter valued at $35,000. Resurgent Financial Advisors LLC bought a new stake in shares of Discover Financial Services in the 4th quarter valued at about $31,000. Compass Wealth Management LLC bought a new stake in Discover Financial Services during the 4th quarter worth approximately $34,000. Aspire Private Capital LLC increased its stake in Discover Financial Services by 180.0% during the 4th quarter. Aspire Private Capital LLC now owns 350 shares of the financial services provider’s stock worth $34,240,500,000 after purchasing an additional 225 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Discover Financial Services during the 3rd quarter worth approximately $30,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $106.51, for a total value of $3,748,193.41. Following the completion of the transaction, the chief financial officer now owns 18,592 shares of the company’s stock, valued at $1,980,233.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.69% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on DFS. Morgan Stanley raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $133.00 in a report on Thursday, February 8th. The Goldman Sachs Group lowered their target price on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday, January 19th. Stephens reaffirmed an “equal weight” rating and set a $98.00 target price on shares of Discover Financial Services in a research report on Thursday, December 14th. HSBC downgraded Discover Financial Services from a “buy” rating to a “hold” rating and cut their price target for the stock from $121.00 to $107.00 in a research note on Friday, January 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a research note on Friday, January 19th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $114.24.
Read Our Latest Stock Analysis on Discover Financial Services
Discover Financial Services Stock Performance
Discover Financial Services stock traded down $0.23 during mid-day trading on Monday, reaching $110.49. 1,327,100 shares of the stock traded hands, compared to its average volume of 2,225,933. The stock has a market capitalization of $27.63 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.12. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $122.50. The business’s 50-day moving average is $107.96 and its 200-day moving average is $96.18.
Discover Financial Services (NYSE:DFS – Get Free Report) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.96). The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Discover Financial Services had a net margin of 14.30% and a return on equity of 21.81%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.77 EPS. As a group, sell-side analysts predict that Discover Financial Services will post 11.22 EPS for the current fiscal year.
Discover Financial Services Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, February 21st. Discover Financial Services’s payout ratio is 24.89%.
About Discover Financial Services
(Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Discover Financial Services, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Discover Financial Services wasn’t on the list.
While Discover Financial Services currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today’s challenging market? Click the link below and we’ll send you MarketBeat’s list of ten stocks that will drive in any economic environment.