Discover Financial Services (NYSE:DFS) Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its holdings in Discover Financial Services (NYSE:DFS) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,583 shares of the financial services provider’s stock after purchasing an additional 3,457 shares during the period. Rafferty Asset Management LLC’s holdings in Discover Financial Services were worth $15,345,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services during the 4th quarter worth about $33,000. Flagship Wealth Advisors LLC acquired a new position in Discover Financial Services during the 4th quarter worth about $34,000. Bfsg LLC acquired a new position in Discover Financial Services during the 4th quarter worth about $35,000. Grove Bank & Trust lifted its stake in Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in Discover Financial Services during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $200.18 on Friday. The stock has a fifty day moving average price of $171.48 and a 200 day moving average price of $177.96. The stock has a market cap of $50.38 billion, a PE ratio of 12.54, a P/E/G ratio of 1.51 and a beta of 1.16. Discover Financial Services has a 1 year low of $119.95 and a 1 year 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.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.92. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.25 billion. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. During the same quarter last year, the business posted $1.10 earnings per share. Sell-side analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on DFS. Argus upgraded Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. Truist Financial increased their price objective on Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a report on Friday, April 25th. Royal Bank of Canada increased their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Wells Fargo & Company increased their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.64.

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; 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.