SageView Advisory Group LLC Buys New Holdings in Discover Financial Services (NYSE:DFS)

SageView Advisory Group LLC bought a new stake in Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,305 shares of the financial services provider’s stock, valued at approximately $250,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in Discover Financial Services in the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new position in Discover Financial Services in the fourth quarter valued at approximately $28,000. MeadowBrook Investment Advisors LLC purchased a new position in Discover Financial Services in the fourth quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC purchased a new position in Discover Financial Services in the fourth quarter valued at approximately $35,000. Finally, Anchor Investment Management LLC purchased a new position in Discover Financial Services in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DFS. Barclays increased their price target on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. StockNews.com began coverage on shares of Discover Financial Services in a research report on Friday. They set a “hold” rating on the stock. Wells Fargo & Company raised their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Piper Sandler raised their target price on shares of Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, BTIG Research began coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $126.29.

Discover Financial Services Price Performance

Discover Financial Services stock opened at $127.78 on Friday. Discover Financial Services has a one year low of $79.04 and a one year 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 business has a fifty day moving average of $124.22 and a two-hundred day moving average of $117.57. The company has a market cap of $32.02 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 0.77 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same period last year, the business posted $3.58 EPS. As a group, analysts predict that Discover Financial Services will post 11.46 earnings per share 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. Shareholders of record on Thursday, May 23rd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

About Discover Financial Services

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.