Monetary Management Group Inc. decreased its stake in Discover Financial Services (NYSE:DFS) by 29.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,400 shares of the financial services provider’s stock after selling 2,300 shares during the period. Monetary Management Group Inc.’s holdings in Discover Financial Services were worth $193,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Discover Financial Services during the fourth quarter valued at $240,971,000. JPMorgan Chase & Co. raised its stake in shares of Discover Financial Services by 42.6% during the first quarter. JPMorgan Chase & Co. now owns 7,155,617 shares of the financial services provider’s stock valued at $255,242,000 after acquiring an additional 2,138,282 shares during the last quarter. Douglass Winthrop Advisors LLC bought a new position in shares of Discover Financial Services during the first quarter valued at $45,581,000. Deutsche Bank AG raised its stake in shares of Discover Financial Services by 52.4% during the first quarter. Deutsche Bank AG now owns 2,543,981 shares of the financial services provider’s stock valued at $90,743,000 after acquiring an additional 874,398 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Discover Financial Services by 56.3% during the first quarter. First Trust Advisors LP now owns 1,757,986 shares of the financial services provider’s stock valued at $62,707,000 after acquiring an additional 632,941 shares during the last quarter. 82.82% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on DFS shares. Zacks Investment Research raised shares of Discover Financial Services from a “sell” rating to a “hold” rating and set a $52.00 price target for the company in a research note on Monday. Wells Fargo & Co dropped their price target on shares of Discover Financial Services from $88.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. TheStreet cut shares of Discover Financial Services from a “b-” rating to a “c+” rating in a research report on Thursday, March 12th. Imperial Capital reiterated an “outperform” rating and set a $32.00 price objective (down from $34.00) on shares of Discover Financial Services in a research report on Tuesday, March 17th. Finally, Nomura Securities upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $82.00 to $59.00 in a research report on Friday, March 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $64.20.
In related news, EVP Robert Andrew Eichfeld purchased 12,650 shares of Discover Financial Services stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $39.50 per share, for a total transaction of $499,675.00. Following the completion of the acquisition, the executive vice president now owns 33,454 shares of the company’s stock, valued at approximately $1,321,433. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.
NYSE:DFS traded down $4.76 during trading hours on Thursday, reaching $50.20. The company had a trading volume of 266,579 shares, compared to its average volume of 4,630,984. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.87. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 7.65, a P/E/G ratio of 7.04 and a beta of 1.87. The business’s 50-day simple moving average is $43.74 and its two-hundred day simple moving average is $61.93. Discover Financial Services has a twelve month low of $23.25 and a twelve month high of $92.98.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($2.34). The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.88 billion. Discover Financial Services had a return on equity of 20.38% and a net margin of 15.39%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.15 earnings per share. As a group, equities analysts predict that Discover Financial Services will post 1.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Wednesday, May 20th. Discover Financial Services’s payout ratio is 19.38%.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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