DLD Asset Management LP Reduces Stock Position in Discover Financial Services (NYSE:DFS)

DLD Asset Management LP lessened its holdings in Discover Financial Services (NYSE:DFS) by 66.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,635 shares of the financial services provider’s stock after selling 16,765 shares during the quarter. DLD Asset Management LP’s holdings in Discover Financial Services were worth $1,496,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Townsquare Capital LLC boosted its holdings in shares of Discover Financial Services by 4.5% in the third quarter. Townsquare Capital LLC now owns 4,769 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 204 shares during the period. Bridgewater Associates LP bought a new stake in Discover Financial Services during the 3rd quarter valued at $500,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Discover Financial Services by 2.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 57,400 shares of the financial services provider’s stock worth $8,053,000 after buying an additional 1,400 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Discover Financial Services during the 3rd quarter worth $30,000. Finally, Atom Investors LP increased its stake in shares of Discover Financial Services by 69.5% during the third quarter. Atom Investors LP now owns 3,489 shares of the financial services provider’s stock valued at $489,000 after buying an additional 1,430 shares during the period. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DFS. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Royal Bank of Canada lifted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Truist Financial reduced 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. Finally, StockNews.com downgraded 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 issued a buy rating to the stock. According to MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and a consensus target price of $192.40.

Discover Financial Services Trading Down 0.2 %

Shares of NYSE:DFS opened at $170.32 on Wednesday. The business’s 50-day moving average is $183.68 and its 200 day moving average is $170.89. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76. The firm has a market capitalization of $42.85 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (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%. On average, research analysts predict that Discover Financial Services will post 13.88 earnings per share 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. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.64%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Discover Financial Services Company 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.