NN Investment Partners Holdings N.V. Boosts Position in Discover Financial Services (NYSE:DFS)

NN Investment Partners Holdings N.V. boosted its holdings in shares of Discover Financial Services (NYSE:DFS) by 12.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,259 shares of the financial services provider’s stock after buying an additional 10,044 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Discover Financial Services were worth $11,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Gateway Advisory LLC raised its position in Discover Financial Services by 1.7% during the 3rd quarter. Gateway Advisory LLC now owns 5,060 shares of the financial services provider’s stock worth $622,000 after buying an additional 87 shares during the last quarter. Miracle Mile Advisors LLC raised its position in Discover Financial Services by 4.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,882 shares of the financial services provider’s stock worth $231,000 after buying an additional 87 shares during the last quarter. Estate Counselors LLC raised its position in Discover Financial Services by 0.8% during the 3rd quarter. Estate Counselors LLC now owns 10,875 shares of the financial services provider’s stock worth $1,335,000 after buying an additional 90 shares during the last quarter. NorthCoast Asset Management LLC raised its position in Discover Financial Services by 1.5% during the 2nd quarter. NorthCoast Asset Management LLC now owns 6,136 shares of the financial services provider’s stock worth $727,000 after buying an additional 91 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of Discover Financial Services by 3.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 3,169 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 94 shares in the last quarter. 84.22% of the stock is owned by institutional investors.

Several equities analysts have recently weighed in on DFS shares. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Tuesday, January 4th. Morgan Stanley lifted their target price on shares of Discover Financial Services from $139.00 to $146.00 and gave the company an “equal weight” rating in a report on Monday, December 6th. Seaport Res Ptn raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating in a report on Tuesday, November 2nd. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, October 8th. Finally, Piper Sandler lifted their target price on shares of Discover Financial Services from $117.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, October 25th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $134.61.

In related news, EVP Carlos Minetti sold 22,000 shares of the business’s stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $123.68, for a total value of $2,720,960.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cynthia A. Glassman sold 3,200 shares of the business’s stock in a transaction dated Tuesday, October 26th. The shares were sold at an average price of $123.93, for a total transaction of $396,576.00. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Shares of DFS opened at $127.54 on Friday. Discover Financial Services has a 52-week low of $81.27 and a 52-week high of $135.69. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.52. The firm’s fifty day moving average is $117.01 and its two-hundred day moving average is $121.93. The stock has a market cap of $37.38 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 0.17 and a beta of 1.70.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Tuesday, October 19th. The financial services provider reported $3.54 earnings per share for the quarter, beating the consensus estimate of $3.53 by $0.01. The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Discover Financial Services had a net margin of 39.15% and a return on equity of 45.80%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.45 EPS. As a group, research analysts anticipate that Discover Financial Services will post 17.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 9th. Stockholders of record on Wednesday, November 24th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, November 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.57%. Discover Financial Services’s payout ratio is 11.96%.

Discover Financial Services Company Profile

Discover Financial Services is a holding company, which engages in the provision of direct banking and payment services. It operates through the Direct Banking and Payment Services segments. The Direct Banking segment offers Discover-branded credit cards issued to individuals on the Discover Network and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending and deposit products.

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

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