Intech Investment Management LLC Buys 6,503 Shares of Discover Financial Services (NYSE:DFS)

Intech Investment Management LLC increased its stake in Discover Financial Services (NYSE:DFS) by 46.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,419 shares of the financial services provider’s stock after purchasing an additional 6,503 shares during the quarter. Intech Investment Management LLC’s holdings in Discover Financial Services were worth $3,537,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Discover Financial Services in the 4th quarter worth $33,000. Flagship Wealth Advisors LLC bought a new position in Discover Financial Services in the 4th quarter worth $34,000. Bfsg LLC bought a new position in Discover Financial Services in the 4th quarter worth $35,000. Grove Bank & Trust raised its holdings in Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Discover Financial Services in the 3rd quarter worth $30,000. 86.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on DFS shares. Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Barclays raised their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Truist Financial raised their price target on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $191.91.

Discover Financial Services Trading Up 2.0 %

Shares of Discover Financial Services stock opened at $162.05 on Thursday. The firm has a market cap of $40.77 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.51 and a beta of 1.45. The business has a 50-day moving average price of $186.51 and a 200-day moving average price of $168.49. 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 has a twelve month low of $119.31 and a twelve month high of $205.76.

Discover Financial Services (NYSE:DFS) last released its quarterly 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 return on equity of 26.18% and a net margin of 17.29%. Equities research analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.73%. Discover Financial Services’s dividend payout ratio 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.