Dai ichi Life Insurance Company Ltd Raises Stock Position in Discover Financial Services (NYSE:DFS)

Dai ichi Life Insurance Company Ltd lifted its position in shares of Discover Financial Services (NYSE:DFS) by 214.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,333 shares of the financial services provider’s stock after buying an additional 5,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Discover Financial Services were worth $1,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DFS. Opal Wealth Advisors LLC acquired a new stake in Discover Financial Services in the second quarter valued at $26,000. DiNuzzo Private Wealth Inc. increased its holdings in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 157 shares in the last quarter. Y.D. More Investments Ltd raised its position in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 95 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Price Performance

DFS stock opened at $182.50 on Thursday. The stock has a 50-day moving average price of $155.09 and a two-hundred day moving average price of $138.97. The company has a market cap of $45.82 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.41. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 12-month low of $85.37 and a 12-month high of $188.26.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the company earned $2.59 EPS. As a group, research analysts predict that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s dividend payout ratio is presently 22.60%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price objective on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Finally, Evercore ISI lifted their price objective on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $138.81.

Discover Financial Services 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.