Discover Financial Services (NYSE:DFS) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. lifted its holdings in shares of Discover Financial Services (NYSE:DFS) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,624 shares of the financial services provider’s stock after buying an additional 413 shares during the quarter. Corebridge Financial Inc.’s holdings in Discover Financial Services were worth $11,022,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DFS. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services during the fourth quarter worth $33,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter worth about $34,000. Bfsg LLC acquired a new position in shares of Discover Financial Services during the 4th quarter worth about $35,000. Grove Bank & Trust lifted its stake 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 valued at $35,000 after buying an additional 89 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Discover Financial Services in the 3rd quarter valued at about $30,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of DFS stock opened at $166.29 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The company has a market capitalization of $41.84 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The firm’s 50-day moving average is $185.41 and its two-hundred day moving average is $169.63. Discover Financial Services has a 12 month low of $119.31 and a 12 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, beating 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%. Analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DFS. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and increased their target price for the company from $150.00 to $239.00 in a report on Monday, January 13th. Truist Financial dropped their price target on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Royal Bank of Canada raised their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped their target price on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services has an average rating of “Hold” and an average target price of $192.40.

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.