Discover Financial Services (NYSE:DFS) Stake Reduced by RFG Advisory LLC

RFG Advisory LLC decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,111 shares of the financial services provider’s stock after selling 69 shares during the period. RFG Advisory LLC’s holdings in Discover Financial Services were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. AXA S.A. increased its holdings in shares of Discover Financial Services by 141.5% in the second quarter. AXA S.A. now owns 6,064 shares of the financial services provider’s stock valued at $793,000 after buying an additional 3,553 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Discover Financial Services by 0.7% during the second quarter. AQR Capital Management LLC now owns 171,921 shares of the financial services provider’s stock worth $21,867,000 after purchasing an additional 1,165 shares during the period. MBB Public Markets I LLC lifted its holdings in shares of Discover Financial Services by 588.8% during the second quarter. MBB Public Markets I LLC now owns 17,818 shares of the financial services provider’s stock valued at $2,331,000 after purchasing an additional 15,231 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Discover Financial Services by 23.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 619,818 shares of the financial services provider’s stock valued at $81,078,000 after purchasing an additional 116,412 shares during the period. Finally, Creative Planning increased its stake in Discover Financial Services by 1.4% in the 2nd quarter. Creative Planning now owns 63,959 shares of the financial services provider’s stock worth $8,366,000 after purchasing an additional 906 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Trading Up 0.3 %

Discover Financial Services stock opened at $201.59 on Monday. Discover Financial Services has a one year low of $101.71 and a one year high of $204.93. The company’s fifty day moving average price is $178.82 and its two-hundred day moving average price is $154.68. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.03. The company has a market capitalization of $50.66 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.15 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 27.52% and a net margin of 17.29%. On average, analysts forecast that Discover Financial Services will post 12.82 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Wall Street Analyst Weigh In

DFS has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Finally, Truist Financial assumed coverage on Discover Financial Services in a research report on Tuesday, January 7th. They set a “buy” rating and a $233.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $180.57.

Discover Financial Services Profile

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.