Discover Financial Services (NYSE:DFS) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Discover Financial Services (NYSE:DFS) by 2.2% in the fourth quarter, Holdings Channel reports. The fund owned 622,753 shares of the financial services provider’s stock after selling 13,716 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Discover Financial Services were worth $69,997,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DFS. Bruce G. Allen Investments LLC purchased a new position in shares of Discover Financial Services during the 4th quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Discover Financial Services during the 3rd quarter valued at about $30,000. Resurgent Financial Advisors LLC purchased a new position in Discover Financial Services during the 4th quarter valued at about $31,000. Pinnacle Bancorp Inc. boosted its holdings in Discover Financial Services by 282.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 282 shares during the period. Finally, Compass Wealth Management LLC purchased a new position in Discover Financial Services during the 4th quarter valued at about $34,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Trading Up 0.3 %

Shares of DFS stock opened at $119.93 on Thursday. The business’s 50 day moving average is $121.38 and its two-hundred day moving average is $105.53. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $131.65. The company has a market capitalization of $30.05 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 0.86 and a beta of 1.45. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($1.93). Discover Financial Services had a net margin of 14.30% and a return on equity of 22.24%. During the same period in the previous year, the company earned $3.58 earnings per share. Equities analysts forecast that Discover Financial Services will post 11.2 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on DFS. The Goldman Sachs Group lowered their target price on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 19th. StockNews.com began coverage on Discover Financial Services in a report on Thursday. They set a “hold” rating for the company. BMO Capital Markets decreased their price objective on Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Wolfe Research reiterated a “peer perform” rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $140.00 price objective (up previously from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and a consensus target price of $125.22.

Insider Activity at Discover Financial Services

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

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; 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.