Signaturefd LLC reduced its stake in shares of Discover Financial Services (NYSE:DFS) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,361 shares of the financial services provider’s stock after selling 271 shares during the period. Signaturefd LLC’s holdings in Discover Financial Services were worth $285,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Howard Wealth Management LLC purchased a new position in Discover Financial Services in the 4th quarter worth approximately $26,000. Executive Wealth Management LLC lifted its holdings in Discover Financial Services by 122.4% in the 3rd quarter. Executive Wealth Management LLC now owns 367 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 202 shares in the last quarter. Truewealth LLC raised its holdings in shares of Discover Financial Services by 861.1% during the 4th quarter. Truewealth LLC now owns 346 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 310 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Discover Financial Services during the 3rd quarter worth approximately $35,000. Finally, Quest Capital Management Inc. ADV purchased a new stake in shares of Discover Financial Services during the 3rd quarter worth approximately $44,000. 84.61% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the company. Piper Sandler cut Discover Financial Services from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $96.00 to $86.00 in a report on Friday, January 24th. ValuEngine raised Discover Financial Services from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 28th. Evercore ISI cut Discover Financial Services from an “in-line” rating to an “underperform” rating and set a $75.00 price objective on the stock. in a report on Friday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 price objective (down from $101.00) on shares of Discover Financial Services in a report on Friday, January 24th. Finally, Credit Suisse Group upped their price objective on Discover Financial Services from $98.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Discover Financial Services has an average rating of “Hold” and an average target price of $87.00.
Shares of NYSE DFS traded up $0.19 during trading hours on Friday, hitting $76.40. 607,961 shares of the company traded hands, compared to its average volume of 2,505,342. The stock has a market capitalization of $23.75 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 1.39 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The company’s 50 day moving average price is $80.49 and its 200 day moving average price is $82.07. Discover Financial Services has a 12 month low of $68.73 and a 12 month high of $92.98.
Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, January 23rd. The financial services provider reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.01. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.94 billion. Discover Financial Services had a return on equity of 26.25% and a net margin of 20.94%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 EPS. Equities analysts anticipate that Discover Financial Services will post 9.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, February 19th. Discover Financial Services’s dividend payout ratio is currently 19.38%.
In other Discover Financial Services news, CEO Roger C. Hochschild acquired 15,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were bought at an average price of $74.12 per share, with a total value of $1,111,800.00. Following the transaction, the chief executive officer now directly owns 849,085 shares of the company’s stock, valued at approximately $62,934,180.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Greene acquired 3,377 shares of the business’s stock in a transaction on Monday, January 27th. The stock was acquired at an average cost of $73.84 per share, for a total transaction of $249,357.68. Following the transaction, the chief financial officer now directly owns 27,502 shares in the company, valued at $2,030,747.68. The disclosure for this purchase can be found here. In the last three months, insiders have bought 21,777 shares of company stock worth $1,612,588. Corporate insiders own 0.81% of the company’s stock.
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.
See Also: Depreciation
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