Mutual of America Capital Management LLC Cuts Stock Position in Discover Financial Services (NYSE:DFS)

Mutual of America Capital Management LLC lowered its position in Discover Financial Services (NYSE:DFS) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,601 shares of the financial services provider’s stock after selling 1,184 shares during the period. Mutual of America Capital Management LLC’s holdings in Discover Financial Services were worth $4,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DFS. Brave Warrior Advisors LLC grew its position in Discover Financial Services by 10.6% during the 4th quarter. Brave Warrior Advisors LLC now owns 2,633,167 shares of the financial services provider’s stock worth $295,968,000 after purchasing an additional 251,909 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Discover Financial Services by 60.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock worth $238,605,000 after purchasing an additional 803,738 shares during the last quarter. Cooke & Bieler LP grew its position in Discover Financial Services by 5.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,281,950 shares of the financial services provider’s stock worth $167,692,000 after purchasing an additional 62,595 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Discover Financial Services by 67.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,257,086 shares of the financial services provider’s stock worth $141,297,000 after purchasing an additional 506,801 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its position in Discover Financial Services by 0.5% during the 2nd quarter. AustralianSuper Pty Ltd now owns 1,162,495 shares of the financial services provider’s stock worth $152,066,000 after purchasing an additional 6,042 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Discover Financial Services stock opened at $142.49 on Monday. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $147.61. The firm has a market capitalization 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 company has a fifty day simple moving average of $134.78 and a 200-day simple moving average of $128.69. 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 (NYSE:DFS) last released its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the firm earned $3.54 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities analysts anticipate that Discover Financial Services will post 12.87 EPS 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. Investors of record on Thursday, August 22nd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DFS. Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. BMO Capital Markets lifted their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Royal Bank of Canada lifted 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 note on Friday, July 19th. Finally, Barclays boosted their target price on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and a consensus 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.