Kentucky Retirement Systems Reduces Position in Discover Financial Services (NYSE:DFS)

Kentucky Retirement Systems lowered its stake in Discover Financial Services (NYSE:DFS) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,884 shares of the financial services provider’s stock after selling 106 shares during the period. Kentucky Retirement Systems’ holdings in Discover Financial Services were worth $2,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DFS. Opal Wealth Advisors LLC purchased a new position in Discover Financial Services in the 2nd quarter worth $26,000. Y.D. More Investments Ltd raised 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 worth $29,000 after purchasing an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of 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 purchasing an additional 95 shares during the period. Larson Financial Group LLC increased its holdings in Discover Financial Services by 348.2% in the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after buying an additional 195 shares during the period. Finally, Riverview Trust Co acquired a new position in Discover Financial Services in the 1st quarter worth approximately $34,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on DFS. BTIG Research began coverage on shares of Discover Financial Services in a report on Friday, June 7th. They issued a “neutral” rating on the stock. BMO Capital Markets increased their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Barclays boosted their price objective on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Royal Bank of Canada raised their target price on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Thirteen research 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 an average rating of “Hold” and an average target price of $132.94.

Discover Financial Services Stock Performance

DFS opened at $142.49 on Friday. The company has a market cap of $35.73 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.86 and a beta of 1.42. The firm’s fifty day simple moving average is $134.78 and its two-hundred day simple moving average is $128.58. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $147.61.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the firm posted $3.54 EPS. Discover Financial Services’s revenue was up 17.0% compared to the same quarter last year. Equities analysts anticipate that Discover Financial Services will post 12.87 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.70 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 1.97%. Discover Financial Services’s payout ratio is currently 31.93%.

Discover Financial Services 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.