LSV Asset Management reduced its holdings in shares of Discover Financial Services (NYSE:DFS) by 2.7% in the 4th quarter, HoldingsChannel reports. The fund owned 6,619,471 shares of the financial services provider’s stock after selling 185,957 shares during the quarter. Discover Financial Services accounts for approximately 0.7% of LSV Asset Management’s investment portfolio, making the stock its 29th biggest holding. LSV Asset Management’s holdings in Discover Financial Services were worth $390,416,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in DFS. Financial Gravity Companies Inc. acquired a new position in shares of Discover Financial Services during the 4th quarter worth about $29,000. Cerebellum GP LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at about $30,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at about $30,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at about $57,000. Finally, Legacy Financial Advisors Inc. lifted its holdings in shares of Discover Financial Services by 113.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,431 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 760 shares during the last quarter. 86.17% of the stock is owned by institutional investors and hedge funds.
DFS opened at $68.30 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.08 and a debt-to-equity ratio of 2.58. The company has a market cap of $22.85 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 0.91 and a beta of 1.60. Discover Financial Services has a 52 week low of $54.36 and a 52 week high of $81.34.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Thursday, January 24th. The financial services provider reported $2.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.06). The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Discover Financial Services had a net margin of 21.25% and a return on equity of 25.87%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.51 earnings per share. On average, equities research analysts expect that Discover Financial Services will post 8.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Thursday, February 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.34%. The ex-dividend date is Wednesday, February 20th. Discover Financial Services’s dividend payout ratio is presently 20.54%.
In other Discover Financial Services news, insider David W. Nelms sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $67.94, for a total transaction of $4,076,400.00. Following the completion of the sale, the insider now directly owns 1,060,191 shares of the company’s stock, valued at approximately $72,029,376.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Roger C. Hochschild acquired 30,000 shares of Discover Financial Services stock in a transaction on Monday, January 28th. The shares were bought at an average cost of $66.67 per share, with a total value of $2,000,100.00. Following the completion of the purchase, the chief executive officer now owns 834,457 shares in the company, valued at $55,633,248.19. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 114,012 shares of company stock valued at $7,893,863. 0.81% of the stock is owned by company insiders.
DFS has been the subject of several research reports. Zacks Investment Research downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Wells Fargo & Co reduced their target price on Discover Financial Services from $82.00 to $78.00 and set a “market perform” rating for the company in a report on Friday, October 26th. Citigroup reduced their target price on Discover Financial Services from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, November 1st. ValuEngine downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Finally, Barclays set a $85.00 target price on Discover Financial Services and gave the company a “buy” rating in a report on Friday, December 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.57.
Discover Financial Services Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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