Miracle Mile Advisors LLC Takes Position in Discover Financial Services (NYSE:DFS)

Miracle Mile Advisors LLC bought a new stake in Discover Financial Services (NYSE:DFSFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,978 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DFS. Bruce G. Allen Investments LLC acquired a new stake in Discover Financial Services during the fourth quarter worth approximately $28,000. Resurgent Financial Advisors LLC acquired a new stake in Discover Financial Services during the fourth quarter worth approximately $31,000. Compass Wealth Management LLC acquired a new stake in Discover Financial Services during the fourth quarter worth approximately $34,000. Aspire Private Capital LLC grew its position in Discover Financial Services by 180.0% during the fourth quarter. Aspire Private Capital LLC now owns 350 shares of the financial services provider’s stock worth $34,240,500,000 after buying an additional 225 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in Discover Financial Services during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Down 0.7 %

Shares of NYSE:DFS opened at $126.89 on Thursday. The firm has a market cap of $31.79 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.39 and a beta of 1.45. 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 has a 12-month low of $79.04 and a 12-month high of $131.65. The business has a fifty day simple moving average of $117.53 and a 200 day simple moving average of $102.87.

Discover Financial Services (NYSE:DFSGet Free Report) last announced its earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.96). The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.10 billion. Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.77 earnings per share. Analysts predict that Discover Financial Services will post 11.44 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.80 dividend on an annualized basis and a yield of 2.21%. Discover Financial Services’s payout ratio is currently 24.89%.

Insiders Place Their Bets

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the completion of the sale, the chief financial officer now directly owns 18,592 shares in the company, valued at approximately $1,980,233.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Citigroup upped their target price on Discover Financial Services from $127.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. The Goldman Sachs Group cut their target price on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, January 19th. StockNews.com assumed coverage on Discover Financial Services in a research note on Tuesday. They set a “hold” rating for the company. Finally, Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $124.18.

Get Our Latest Analysis on Discover Financial Services

Discover Financial Services Company Profile

(Free Report)

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.

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

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