Discover Financial Services (NYSE:DFS) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its stake in shares of Discover Financial Services (NYSE:DFS) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,015 shares of the financial services provider’s stock after selling 833 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Discover Financial Services were worth $2,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. J.Safra Asset Management Corp lifted its position in Discover Financial Services by 24.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 76 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Discover Financial Services by 0.9% during the second quarter. UMB Bank n.a. now owns 9,139 shares of the financial services provider’s stock worth $1,195,000 after purchasing an additional 84 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Discover Financial Services by 3.1% in the first quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 86 shares during the period. Optas LLC grew its holdings in Discover Financial Services by 4.3% during the 2nd quarter. Optas LLC now owns 2,147 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 89 shares in the last quarter. Finally, Conning Inc. grew its holdings in Discover Financial Services by 4.1% during the 2nd quarter. Conning Inc. now owns 2,371 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of NYSE DFS opened at $143.92 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The firm has a market capitalization of $36.09 billion, a PE ratio of 16.41, a P/E/G ratio of 0.86 and a beta of 1.42. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The business’s fifty day moving average price is $134.56 and its two-hundred day moving average price is $128.42.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data 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 business had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.54 EPS. On average, research analysts expect that Discover Financial Services will post 12.87 EPS for the current year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.70 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 1.95%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analyst Ratings Changes

A number of equities analysts have weighed in on DFS shares. Royal Bank of Canada upped their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. BTIG Research started coverage on Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating for the company. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Jefferies Financial Group raised their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, BMO Capital Markets lifted their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $132.94.

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.