Andra AP fonden Has $20.25 Million Holdings in Discover Financial Services (NYSE:DFS)

Andra AP fonden raised its position in Discover Financial Services (NYSE:DFS) by 34.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 116,900 shares of the financial services provider’s stock after purchasing an additional 29,900 shares during the quarter. Andra AP fonden’s holdings in Discover Financial Services were worth $20,251,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Discover Financial Services during the fourth quarter worth approximately $351,766,000. FMR LLC lifted its position in shares of Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after purchasing an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of Discover Financial Services by 1,272.0% during the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after purchasing an additional 245,829 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Discover Financial Services during the fourth quarter worth approximately $39,067,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Discover Financial Services during the fourth quarter worth approximately $38,489,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 4.9 %

Shares of NYSE:DFS opened at $172.10 on Friday. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The company has a market capitalization of $43.30 billion, a PE ratio of 10.78, a PEG ratio of 1.51 and a beta of 1.45. The company has a 50 day moving average price of $189.17 and a two-hundred day moving average price of $166.66.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is 17.54%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DFS shares. Truist Financial increased their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Barclays increased their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada increased their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $191.91.

About Discover Financial Services

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.