Y.D. More Investments Ltd Buys 133 Shares of Discover Financial Services (NYSE:DFS)

Y.D. More Investments Ltd grew its position in Discover Financial Services (NYSE:DFS) by 147.8% during the second quarter, HoldingsChannel reports. The firm owned 223 shares of the financial services provider’s stock after buying an additional 133 shares during the quarter. Y.D. More Investments Ltd’s holdings in Discover Financial Services were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Discover Financial Services in the 4th quarter valued at $322,199,000. Envestnet Asset Management Inc. boosted its holdings in Discover Financial Services by 60.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after acquiring an additional 803,738 shares during the period. Elser Financial Planning Inc bought a new stake in Discover Financial Services during the second quarter valued at about $91,044,000. Magnetar Financial LLC acquired a new stake in shares of Discover Financial Services in the first quarter valued at about $71,693,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Discover Financial Services by 67.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,257,086 shares of the financial services provider’s stock worth $141,297,000 after purchasing an additional 506,801 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DFS. BMO Capital Markets increased their target price on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Royal Bank of Canada increased their price objective on Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their target price on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Jefferies Financial Group upped their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Barclays raised their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services has an average rating of “Hold” and a consensus target price of $132.94.

Discover Financial Services Trading Up 1.6 %

DFS stock opened at $131.33 on Friday. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The business’s 50 day moving average is $133.92 and its 200-day moving average is $127.97. The firm has a market cap of $32.97 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.86 and a beta of 1.42.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.54 earnings per share. Equities analysts anticipate that Discover Financial Services will post 12.87 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

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; 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.