Discover Financial Services (NYSE:DFS) Shares Purchased by PFG Investments LLC

PFG Investments LLC grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,791 shares of the financial services provider’s stock after acquiring an additional 104 shares during the quarter. PFG Investments LLC’s holdings in Discover Financial Services were worth $310,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of DFS. FMR LLC grew its position in Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after buying an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC increased its stake 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 valued at $37,199,000 after acquiring an additional 245,829 shares during the period. International Assets Investment Management LLC bought a new stake in Discover Financial Services during the third quarter worth approximately $21,169,000. Westchester Capital Management LLC acquired a new stake in Discover Financial Services in the third quarter worth approximately $15,784,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Discover Financial Services by 1,747.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 116,400 shares of the financial services provider’s stock valued at $16,330,000 after purchasing an additional 110,100 shares in the last quarter. Institutional investors own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DFS shares. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Barclays boosted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Evercore ISI raised their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $182.64.

Discover Financial Services Stock Performance

DFS stock opened at $201.09 on Friday. The firm has a 50 day moving average of $181.02 and a two-hundred day moving average of $156.47. Discover Financial Services has a 12 month low of $104.08 and a 12 month high of $205.76. The company has a market capitalization of $50.54 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 0.64 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 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%. As a group, equities analysts anticipate that Discover Financial Services will post 13.39 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.39%. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

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.