Apollon Wealth Management LLC Makes New $387,000 Investment in Discover Financial Services (NYSE:DFS)

Apollon Wealth Management LLC bought a new stake in Discover Financial Services (NYSE:DFSFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,447 shares of the financial services provider’s stock, valued at approximately $387,000.

Several other hedge funds and other institutional investors have also modified their holdings of DFS. Mackenzie Financial Corp grew its stake in Discover Financial Services by 0.5% during the 3rd quarter. Mackenzie Financial Corp now owns 28,137 shares of the financial services provider’s stock valued at $2,455,000 after acquiring an additional 146 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Discover Financial Services by 8.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,432 shares of the financial services provider’s stock valued at $4,456,000 after buying an additional 4,090 shares during the period. ING Groep NV purchased a new stake in Discover Financial Services in the 3rd quarter worth approximately $2,718,000. Sandy Spring Bank boosted its stake in shares of Discover Financial Services by 472.9% during the 3rd quarter. Sandy Spring Bank now owns 1,564 shares of the financial services provider’s stock valued at $135,000 after buying an additional 1,291 shares during the period. Finally, Choate Investment Advisors grew its holdings in shares of Discover Financial Services by 5.8% during the 3rd quarter. Choate Investment Advisors now owns 5,859 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 323 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DFS. Deutsche Bank Aktiengesellschaft reduced their price objective on Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, January 19th. Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Jefferies Financial Group raised their price objective on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Morgan Stanley raised shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $105.00 to $133.00 in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and an average price target of $126.29.

Read Our Latest Stock Analysis on Discover Financial Services

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $123.40 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average price of $124.62 and a 200 day moving average price of $109.98. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.74 and a beta of 1.43. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $131.65.

Discover Financial Services (NYSE:DFSGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same quarter in the previous year, the business posted $3.58 EPS. Research analysts predict that Discover Financial Services will post 11.48 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

About Discover Financial Services

(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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