Discover Financial Services (NYSE:DFS) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its position in shares of Discover Financial Services (NYSE:DFS) by 2.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,799 shares of the financial services provider’s stock after acquiring an additional 63 shares during the period. Miracle Mile Advisors LLC’s holdings in Discover Financial Services were worth $478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $38,489,000. AIA Group Ltd acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $1,854,000. SBI Securities Co. Ltd. acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $33,000. Certuity LLC purchased a new position in Discover Financial Services in the fourth quarter valued at about $251,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Discover Financial Services in the fourth quarter valued at about $351,766,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 1.4%

DFS opened at $197.76 on Wednesday. The business has a 50 day moving average price of $183.66 and a 200 day moving average price of $181.75. Discover Financial Services has a twelve month low of $120.97 and a twelve month high of $207.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The firm has a market cap of $49.77 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.92. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same period in the previous year, the company earned $1.10 EPS. Research analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on DFS shares. TD Securities reduced their price target on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Argus raised Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. Wall Street Zen downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $180.00 price target on shares of Discover Financial Services in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.64.

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.