Assenagon Asset Management S.A. Has $3.88 Million Position in Discover Financial Services (NYSE:DFS)

Assenagon Asset Management S.A. reduced its stake in shares of Discover Financial Services (NYSE:DFS) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,393 shares of the financial services provider’s stock after selling 4,281 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Discover Financial Services were worth $3,879,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DFS. DiNuzzo Private Wealth Inc. increased its stake in shares of Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after buying an additional 157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Discover Financial Services in the third quarter valued at $30,000. Pinnacle Bancorp Inc. increased its stake in shares of Discover Financial Services by 37.1% in the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock valued at $41,000 after buying an additional 79 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after buying an additional 68 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at $51,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of DFS opened at $187.17 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 1 year low of $96.46 and a 1 year high of $189.27. The stock has a market cap of $47.04 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.99 and a beta of 1.46. The stock’s 50-day moving average price is $176.94 and its two-hundred day moving average price is $152.55.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Truist Financial assumed coverage on Discover Financial Services in a research note on Tuesday, January 7th. They issued a “buy” rating and a $233.00 target price for the company. Evercore ISI raised their price target on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Discover Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $171.71.

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; 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.