Discover Financial Services (NYSE:DFS) Shares Sold by Tredje AP fonden

Tredje AP fonden reduced its position in shares of Discover Financial Services (NYSE:DFS) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,315 shares of the financial services provider’s stock after selling 614 shares during the period. Tredje AP fonden’s holdings in Discover Financial Services were worth $5,143,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DFS. Opal Wealth Advisors LLC purchased a new position in shares of Discover Financial Services during the 2nd quarter worth approximately $26,000. Y.D. More Investments Ltd boosted its stake in shares of Discover Financial Services by 147.8% in the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after buying an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Discover Financial Services by 72.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the period. Larson Financial Group LLC raised its position in Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 195 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in Discover Financial Services in the first quarter worth $34,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Royal Bank of Canada boosted their target price on shares of Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Barclays boosted their price objective on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. StockNews.com began coverage on shares of Discover Financial Services in a report on Tuesday. They issued a “hold” rating for the company. Jefferies Financial Group lifted their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, BMO Capital Markets upped their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $132.94.

Discover Financial Services Stock Down 1.1 %

Shares of NYSE DFS opened at $136.11 on Thursday. The firm has a market cap of $34.13 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $147.61. The firm’s 50 day moving average price is $134.31 and its 200 day moving average price is $128.31.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.54 EPS. As a group, sell-side analysts anticipate that Discover Financial Services will post 12.87 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is 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.