Creative Planning Has $9.05 Million Stake in Discover Financial Services (NYSE:DFS)

Creative Planning grew its holdings in Discover Financial Services (NYSE:DFS) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,476 shares of the financial services provider’s stock after buying an additional 517 shares during the period. Creative Planning’s holdings in Discover Financial Services were worth $9,045,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Sunflower Bank N.A. acquired a new stake in shares of Discover Financial Services in the third quarter valued at approximately $231,000. CHICAGO TRUST Co NA acquired a new stake in shares of Discover Financial Services in the third quarter valued at approximately $437,000. Exchange Traded Concepts LLC acquired a new stake in shares of Discover Financial Services in the third quarter valued at approximately $863,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Discover Financial Services by 458.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,949 shares of the financial services provider’s stock valued at $273,000 after buying an additional 1,600 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its position in shares of Discover Financial Services by 491.8% in the third quarter. Independence Bank of Kentucky now owns 5,622 shares of the financial services provider’s stock valued at $789,000 after buying an additional 4,672 shares during the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Trading Down 0.7 %

Shares of DFS stock opened at $145.45 on Wednesday. The stock’s fifty day moving average price is $137.91 and its two-hundred day moving average price is $131.37. The company has a market cap of $36.48 billion, a PE ratio of 16.58, a P/E/G ratio of 0.94 and a beta of 1.41. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $152.90. 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 (NYSE:DFS) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. During the same quarter last year, the business posted $2.59 EPS. Equities analysts predict that Discover Financial Services will post 13.15 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DFS shares. Royal Bank of Canada raised their price objective on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. BMO Capital Markets increased their target price on 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. StockNews.com began coverage on Discover Financial Services in a research note on Saturday. They set a “hold” rating on the stock. Jefferies Financial Group increased their target price on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods increased their target price on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $136.12.

Discover Financial Services Company 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; 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.