165,348 Shares in Discover Financial Services (NYSE:DFS) Purchased by Global Assets Advisory LLC

Global Assets Advisory LLC bought a new stake in Discover Financial Services (NYSE:DFS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 165,348 shares of the financial services provider’s stock, valued at approximately $21,675,000. Global Assets Advisory LLC owned about 0.07% of Discover Financial Services as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Partnership Wealth Management LLC purchased a new stake in Discover Financial Services in the fourth quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new stake in Discover Financial Services in the 4th quarter worth about $28,000. MeadowBrook Investment Advisors LLC bought a new stake in Discover Financial Services in the 4th quarter valued at about $31,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Discover Financial Services during the fourth quarter valued at about $35,000. Finally, Anchor Investment Management LLC bought a new position in Discover Financial Services during the fourth quarter worth about $42,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Up 0.6 %

Shares of DFS opened at $127.67 on Tuesday. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $131.65. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a 50 day simple moving average of $124.47 and a two-hundred day simple moving average of $118.22. The firm has a market cap of $32.02 billion, a P/E ratio of 14.56, a P/E/G ratio of 0.77 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (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 analysts’ expectations of $4.07 billion. During the same period last year, the company posted $3.58 EPS. On average, analysts forecast that Discover Financial Services will post 11.46 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is 31.93%.

Analyst Ratings Changes

DFS has been the subject of several analyst reports. Barclays raised their price objective on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a report on Friday, April 19th. Wells Fargo & Company boosted their price objective on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Jefferies Financial Group raised their target price on Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. BTIG Research initiated coverage on Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Discover Financial Services presently has an average rating of “Hold” and a consensus price target of $126.29.

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; 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.