Sei Investments Co. Cuts Position in Discover Financial Services (NYSE:DFS)

Sei Investments Co. trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 24.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,722 shares of the financial services provider’s stock after selling 23,504 shares during the quarter. Sei Investments Co.’s holdings in Discover Financial Services were worth $12,772,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in Discover Financial Services in the 4th quarter valued at $38,489,000. Nomura Asset Management Co. Ltd. grew its position in Discover Financial Services by 10.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after buying an additional 10,946 shares during the period. Brookstone Capital Management purchased a new stake in Discover Financial Services during the fourth quarter worth about $282,000. Meyer Handelman Co. bought a new stake in Discover Financial Services in the fourth quarter worth about $239,000. Finally, Mechanics Bank Trust Department purchased a new position in Discover Financial Services in the fourth quarter valued at about $234,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Trading Down 2.6 %

Shares of DFS opened at $158.23 on Friday. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76. The stock has a market cap of $39.81 billion, a PE ratio of 9.91, a P/E/G ratio of 1.51 and a beta of 1.45. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The business’s 50-day moving average price is $184.39 and its 200-day moving average price is $170.03.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, equities analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.77%. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Barclays upped their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Truist Financial dropped their price objective on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and an average price target of $192.40.

Discover Financial Services Company 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; 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.