Public Employees Retirement Association of Colorado Sells 1,056 Shares of Discover Financial Services (NYSE:DFS)

Public Employees Retirement Association of Colorado reduced its stake in shares of Discover Financial Services (NYSE:DFS) by 3.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 26,155 shares of the financial services provider’s stock after selling 1,056 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Discover Financial Services were worth $3,421,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Discover Financial Services during the 2nd quarter worth approximately $26,000. Y.D. More Investments Ltd increased its holdings in Discover Financial Services by 147.8% during the 2nd 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 in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Discover Financial Services by 72.5% during the 2nd 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 in the last quarter. Larson Financial Group LLC increased its holdings in Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 195 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in Discover Financial Services during the 1st quarter worth approximately $34,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Trading Down 1.0 %

NYSE:DFS opened at $142.49 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $147.61. The company has a market cap of $35.73 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.86 and a beta of 1.42. The stock’s fifty day moving average price is $134.78 and its two-hundred day moving average price is $128.69.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data 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 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 the consensus estimate of $4.18 billion. During the same quarter last year, the business posted $3.54 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, analysts expect that Discover Financial Services will post 12.87 EPS for the current year.

Discover Financial Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on DFS shares. Barclays boosted their price objective on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Jefferies Financial Group upped their price objective on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. BTIG Research assumed coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Royal Bank of Canada upped their price objective on 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, BMO Capital Markets upped their price objective on 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. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $132.94.

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.