Discover Financial Services (NYSE:DFS) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in shares of Discover Financial Services (NYSE:DFS) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 254,901 shares of the financial services provider’s stock after selling 8,315 shares during the quarter. New York State Teachers Retirement System’s holdings in Discover Financial Services were worth $35,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Axxcess Wealth Management LLC increased its position in Discover Financial Services by 135.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider’s stock valued at $1,022,000 after acquiring an additional 4,478 shares during the period. Gabelli Funds LLC acquired a new stake in Discover Financial Services in the 1st quarter valued at approximately $983,000. William B. Walkup & Associates Inc. acquired a new stake in Discover Financial Services in the 2nd quarter valued at approximately $4,835,000. Janus Henderson Group PLC increased its position in Discover Financial Services by 61.0% in the 1st quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider’s stock valued at $8,197,000 after acquiring an additional 23,702 shares during the period. Finally, Forge First Asset Management Inc. acquired a new stake in Discover Financial Services in the 1st quarter valued at approximately $13,341,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $148.43 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 1 year low of $81.09 and a 1 year high of $157.06. The business has a fifty day simple moving average of $140.21 and a 200 day simple moving average of $132.50. The firm has a market cap of $37.27 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 0.94 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.41. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the company earned $2.59 earnings per share. As a group, sell-side analysts predict that Discover Financial Services will post 13.15 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.89%. Discover Financial Services’s dividend payout ratio (DPR) is currently 22.60%.

Analysts Set New Price Targets

Several research firms recently commented on DFS. BMO Capital Markets raised their target price on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Barclays increased their price target on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. StockNews.com began coverage on Discover Financial Services in a research note on Sunday, October 27th. They set a “buy” rating for the company. Wells Fargo & Company increased their price target on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Evercore ISI increased their price target on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $136.53.

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.