Ziegler Capital Management LLC lowered its stake in shares of Discover Financial Services (NYSE:DFS) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,318 shares of the financial services provider's stock after selling 137 shares during the period. Ziegler Capital Management LLC's holdings in Discover Financial Services were worth $976,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in DFS. Cubist Systematic Strategies LLC boosted its stake in shares of Discover Financial Services by 127.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 29,062 shares of the financial services provider's stock valued at $3,358,000 after acquiring an additional 16,310 shares during the last quarter. MML Investors Services LLC lifted its position in Discover Financial Services by 22.2% during the fourth quarter. MML Investors Services LLC now owns 129,254 shares of the financial services provider's stock worth $14,937,000 after buying an additional 23,442 shares during the period. Laurel Wealth Advisors Inc. lifted its position in Discover Financial Services by 368.5% during the fourth quarter. Laurel Wealth Advisors Inc. now owns 18,183 shares of the financial services provider's stock worth $2,101,000 after buying an additional 14,302 shares during the period. Loomis Sayles & Co. L P purchased a new position in Discover Financial Services during the fourth quarter worth about $325,000. Finally, KCM Investment Advisors LLC purchased a new position in Discover Financial Services during the fourth quarter worth about $280,000. Institutional investors and hedge funds own 83.92% of the company's stock.
Get Discover Financial Services alerts:Discover Financial Services Stock Performance
Shares of NYSE:DFS opened at $93.89 on Tuesday. The company has a market cap of $25.65 billion, a P/E ratio of 6.11, a PEG ratio of 0.20 and a beta of 1.39. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.26 and a current ratio of 1.26. Discover Financial Services has a one year low of $88.02 and a one year high of $133.40. The business's 50-day simple moving average is $101.01 and its 200 day simple moving average is $104.57.
Discover Financial Services (NYSE:DFS – Get Rating) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 EPS for the quarter, beating the consensus estimate of $3.75 by $0.21. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the business posted $5.55 EPS. The company's revenue was down 9.9% on a year-over-year basis. On average, sell-side analysts forecast that Discover Financial Services will post 15.33 earnings per share for the current fiscal year.Discover Financial Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.56%. Discover Financial Services's dividend payout ratio (DPR) is presently 15.63%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the company. Barclays reduced their target price on Discover Financial Services from $140.00 to $133.00 and set an "overweight" rating on the stock in a research report on Friday, July 22nd. Morgan Stanley reduced their target price on Discover Financial Services from $111.00 to $104.00 and set an "equal weight" rating on the stock in a research report on Friday, July 22nd. Stephens increased their target price on Discover Financial Services to $107.00 in a research report on Tuesday, September 20th. Credit Suisse Group reduced their target price on Discover Financial Services to $134.00 in a research report on Friday, July 22nd. Finally, Keefe, Bruyette & Woods cut their price objective on Discover Financial Services from $150.00 to $135.00 in a report on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services has an average rating of "Moderate Buy" and an average price target of $123.38.
Discover Financial Services Company Profile
(Get Rating)
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
- Get a free copy of the StockNews.com research report on Discover Financial Services (DFS)
- Small-Cap Catalyst Pharma Is Among Market's Best Price Performers
- 3 Stocks Growing Their Businesses for 2023
- China-Based EV Maker BYD Set For Big European, Japanese Expansion
- Is Illumina Still the Gamechanger in Genomics Sequencing?
- Here's What Makes Amazon a Sum-of-All-Parts Commerce Juggernaut
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:DFS – Get Rating).
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.