Cannon Global Investment Management LLC Has $484,000 Stake in Discover Financial Services (NYSE:DFS)

Cannon Global Investment Management LLC cut its stake in Discover Financial Services (NYSE:DFS) by 66.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,836 shares of the financial services provider’s stock after selling 5,664 shares during the quarter. Discover Financial Services comprises 0.8% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 26th largest position. Cannon Global Investment Management LLC’s holdings in Discover Financial Services were worth $484,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Brighton Jones LLC lifted its position in shares of Discover Financial Services by 2.9% during the fourth quarter. Brighton Jones LLC now owns 4,378 shares of the financial services provider’s stock valued at $758,000 after purchasing an additional 125 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in Discover Financial Services in the 4th quarter valued at about $385,000. Smartleaf Asset Management LLC lifted its position in shares of Discover Financial Services by 27.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,924 shares of the financial services provider’s stock worth $332,000 after buying an additional 412 shares in the last quarter. Modera Wealth Management LLC boosted its stake in shares of Discover Financial Services by 4.7% in the 4th quarter. Modera Wealth Management LLC now owns 2,712 shares of the financial services provider’s stock worth $470,000 after buying an additional 121 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Discover Financial Services by 67.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,049 shares of the financial services provider’s stock worth $1,221,000 after buying an additional 2,849 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 1.4%

Shares of Discover Financial Services stock opened at $197.76 on Thursday. The stock has a market capitalization of $49.77 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.51 and a beta of 1.16. Discover Financial Services has a 52-week low of $122.37 and a 52-week high of $207.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The stock’s 50-day simple moving average is $195.67 and its 200 day simple moving average is $183.79.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.92. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.25 billion. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. During the same quarter in the previous year, the firm posted $1.10 earnings per share. As a group, research analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DFS shares. Truist Financial increased their price target on Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Wall Street Zen lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Jefferies Financial Group reiterated a “hold” rating and set a $180.00 target price on shares of Discover Financial Services in a research note on Wednesday, May 7th. Argus upgraded shares of Discover Financial Services to a “strong-buy” rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.64.

Discover Financial Services Company Profile

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; 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.