BTR Capital Management Inc. Grows Holdings in Discover Financial Services (NYSE:DFS)

BTR Capital Management Inc. increased its position in shares of Discover Financial Services (NYSE:DFS) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 91,383 shares of the financial services provider’s stock after buying an additional 745 shares during the period. Discover Financial Services makes up about 1.3% of BTR Capital Management Inc.’s investment portfolio, making the stock its 28th biggest position. BTR Capital Management Inc.’s holdings in Discover Financial Services were worth $7,751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Discover Financial Services by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 25,322,884 shares of the financial services provider’s stock worth $1,964,803,000 after buying an additional 159,282 shares during the period. BlackRock Inc. increased its stake in Discover Financial Services by 3.7% during the 2nd quarter. BlackRock Inc. now owns 24,713,231 shares of the financial services provider’s stock worth $1,917,500,000 after buying an additional 887,296 shares during the period. Nuveen Asset Management LLC increased its stake in Discover Financial Services by 707.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,719,868 shares of the financial services provider’s stock worth $211,035,000 after buying an additional 2,382,825 shares during the period. AQR Capital Management LLC increased its stake in Discover Financial Services by 151.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,080,467 shares of the financial services provider’s stock worth $161,424,000 after buying an additional 1,251,827 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in Discover Financial Services by 2.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,958,447 shares of the financial services provider’s stock worth $158,810,000 after acquiring an additional 54,484 shares in the last quarter. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

DFS stock traded up $0.96 during mid-day trading on Friday, hitting $84.60. 17,132 shares of the company were exchanged, compared to its average volume of 1,525,773. Discover Financial Services has a twelve month low of $63.68 and a twelve month high of $92.98. The firm has a fifty day simple moving average of $84.60 and a 200 day simple moving average of $82.61. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $26.12 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.18 and a beta of 1.61.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.07. Discover Financial Services had a net margin of 20.97% and a return on equity of 26.79%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the business posted $2.05 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Discover Financial Services will post 9.06 earnings per share for the current year.

Several research analysts have weighed in on DFS shares. JPMorgan Chase & Co. raised their price objective on shares of Discover Financial Services from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Co reissued a “neutral” rating on shares of Discover Financial Services in a report on Monday, January 6th. Credit Suisse Group raised their price objective on shares of Discover Financial Services from $98.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Nomura reissued a “neutral” rating and set a $89.00 price objective (down from $96.00) on shares of Discover Financial Services in a report on Thursday, December 5th. Finally, Wedbush reissued an “outperform” rating on shares of Discover Financial Services in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $86.63.

About Discover Financial Services

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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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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