CVA Family Office LLC Takes Position in Discover Financial Services (NYSE:DFS)

CVA Family Office LLC purchased a new position in shares of Discover Financial Services (NYSE:DFS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 605 shares of the financial services provider’s stock, valued at approximately $68,000.

Several other large investors have also recently added to or reduced their stakes in DFS. Raymond James & Associates grew its holdings in Discover Financial Services by 27.1% during the 4th quarter. Raymond James & Associates now owns 339,717 shares of the financial services provider’s stock valued at $38,184,000 after purchasing an additional 72,452 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in Discover Financial Services by 37.3% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,176,384 shares of the financial services provider’s stock valued at $132,226,000 after buying an additional 319,697 shares during the last quarter. Premier Path Wealth Partners LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter valued at about $234,000. Stolper Co increased its position in shares of Discover Financial Services by 0.9% during the fourth quarter. Stolper Co now owns 50,545 shares of the financial services provider’s stock worth $5,681,000 after acquiring an additional 461 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of Discover Financial Services in the fourth quarter worth about $224,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Discover Financial Services

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the completion of the sale, the chief financial officer now owns 18,592 shares in the company, valued at approximately $1,980,233.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.69% of the stock is currently owned by insiders.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $128.00 on Thursday. The company’s fifty day moving average is $114.65 and its two-hundred day moving average is $101.46. The company has a market cap of $32.07 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $128.03. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.49.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.96). Discover Financial Services had a net margin of 14.30% and a return on equity of 22.24%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the firm posted $3.77 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts expect that Discover Financial Services will post 11.13 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 22nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Wednesday, February 21st. Discover Financial Services’s dividend payout ratio is currently 24.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DFS shares. Barclays lowered their price objective on Discover Financial Services from $124.00 to $112.00 and set an “equal weight” rating for the company in a research note on Friday, January 19th. Bank of America raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $94.00 to $116.00 in a report on Wednesday, December 6th. BMO Capital Markets cut their target price on Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Evercore ISI increased their price objective on shares of Discover Financial Services from $117.00 to $140.00 and gave the company an “in-line” rating in a report on Thursday, February 22nd. Finally, Morgan Stanley raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $105.00 to $133.00 in a report on Thursday, February 8th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $121.83.

About Discover Financial Services

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; private student loans, 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.