Pinebridge Investments L.P. Reduces Stock Position in Discover Financial Services (NYSE:DFS)

Pinebridge Investments L.P. lowered its stake in Discover Financial Services (NYSE:DFS) by 5.9% during the 4th quarter, HoldingsChannel reports. The firm owned 137,529 shares of the financial services provider’s stock after selling 8,553 shares during the period. Pinebridge Investments L.P.’s holdings in Discover Financial Services were worth $15,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cibc World Markets Corp boosted its holdings in Discover Financial Services by 44.4% in the fourth quarter. Cibc World Markets Corp now owns 57,986 shares of the financial services provider’s stock worth $6,518,000 after purchasing an additional 17,842 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Discover Financial Services by 1,008.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 28,591 shares of the financial services provider’s stock worth $3,214,000 after acquiring an additional 26,012 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Discover Financial Services by 147.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 34,589 shares of the financial services provider’s stock worth $3,888,000 after acquiring an additional 20,629 shares during the last quarter. Lake Street Advisors Group LLC purchased a new position in shares of Discover Financial Services during the 4th quarter worth $335,000. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Discover Financial Services by 3.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 100,103 shares of the financial services provider’s stock worth $11,252,000 after acquiring an additional 3,041 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of NYSE DFS opened at $122.80 on Friday. The firm’s fifty day moving average is $124.52 and its two-hundred day moving average is $115.03. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $131.65. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $30.77 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.74 and a beta of 1.41.

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

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.28%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Analyst Upgrades and Downgrades

DFS has been the topic of several analyst reports. BTIG Research initiated coverage on shares of Discover Financial Services in a research note on Friday. They set a “neutral” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $140.00 price target (up previously from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. HSBC lifted their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Citigroup lifted their target price on shares of Discover Financial Services from $127.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and a consensus price target of $126.29.

Read Our Latest Report 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.

Further Reading

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:DFSFree Report).

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

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.