National Pension Service Raises Holdings in Discover Financial Services (NYSE:DFS)

National Pension Service boosted its holdings in shares of Discover Financial Services (NYSE:DFS) by 10.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 575,617 shares of the financial services provider’s stock after acquiring an additional 53,384 shares during the quarter. National Pension Service’s holdings in Discover Financial Services were worth $63,427,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Koshinski Asset Management Inc. increased its holdings in Discover Financial Services by 15.6% during the first quarter. Koshinski Asset Management Inc. now owns 680 shares of the financial services provider’s stock valued at $75,000 after buying an additional 92 shares during the period. Impax Asset Management Group plc increased its holdings in Discover Financial Services by 1.0% during the fourth quarter. Impax Asset Management Group plc now owns 9,892 shares of the financial services provider’s stock valued at $1,143,000 after buying an additional 95 shares during the period. Schrum Private Wealth Management LLC increased its holdings in Discover Financial Services by 4.2% during the first quarter. Schrum Private Wealth Management LLC now owns 2,507 shares of the financial services provider’s stock valued at $275,000 after buying an additional 100 shares during the period. Atlas Capital Advisors LLC increased its holdings in Discover Financial Services by 1.3% during the first quarter. Atlas Capital Advisors LLC now owns 7,636 shares of the financial services provider’s stock valued at $841,000 after buying an additional 100 shares during the period. Finally, Jacobi Capital Management LLC increased its holdings in Discover Financial Services by 1.9% during the first quarter. Jacobi Capital Management LLC now owns 5,381 shares of the financial services provider’s stock valued at $593,000 after buying an additional 101 shares during the period. 83.92% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Trading Up 1.1 %

NYSE DFS opened at $101.05 on Friday. The company has a market capitalization of $27.60 billion, a PE ratio of 6.58, a P/E/G ratio of 0.21 and a beta of 1.43. The company has a fifty day moving average of $102.43 and a 200 day moving average of $106.59. Discover Financial Services has a 1 year low of $88.02 and a 1 year high of $133.40. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.26 and a quick ratio of 1.26.

Discover Financial Services (NYSE:DFSGet Rating) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.19. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $5.55 earnings per share. Research analysts forecast that Discover Financial Services will post 15.32 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 25th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.38%. Discover Financial Services’s dividend payout ratio is presently 15.63%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price target on shares of Discover Financial Services from $150.00 to $135.00 in a report on Monday, July 11th. Citigroup lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating and cut their price target for the stock from $140.00 to $115.00 in a report on Friday, July 22nd. Wolfe Research lowered shares of Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 price target on the stock. in a report on Thursday, May 12th. Bank of America cut their price target on shares of Discover Financial Services from $128.00 to $120.00 in a report on Sunday, July 24th. Finally, JPMorgan Chase & Co. lowered shares of Discover Financial Services from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $140.00 to $113.00 in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services presently has an average rating of “Moderate Buy” and an average price target of $125.75.

About Discover Financial Services

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFSGet Rating).

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

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