Ritholtz Wealth Management Cuts Stock Holdings in Discover Financial Services (NYSE:DFS)

Ritholtz Wealth Management cut its stake in shares of Discover Financial Services (NYSE:DFS) by 3.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,565 shares of the financial services provider’s stock after selling 118 shares during the period. Ritholtz Wealth Management’s holdings in Discover Financial Services were worth $618,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its position in Discover Financial Services by 0.8% during the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock valued at $1,472,771,000 after acquiring an additional 80,601 shares during the period. FMR LLC grew its holdings in shares of Discover Financial Services by 8.0% during the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after purchasing an additional 558,227 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Discover Financial Services by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock worth $257,391,000 after purchasing an additional 12,255 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Discover Financial Services by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock valued at $242,460,000 after buying an additional 7,751 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Discover Financial Services by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,063,980 shares of the financial services provider’s stock valued at $149,266,000 after buying an additional 4,594 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Up 1.2 %

NYSE:DFS opened at $187.17 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.10. The company has a market capitalization of $47.04 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 0.99 and a beta of 1.46. Discover Financial Services has a one year low of $96.46 and a one year high of $189.27. The stock has a 50-day simple moving average of $176.94 and a 200 day simple moving average of $152.55.

Wall Street Analysts Forecast Growth

DFS has been the subject of several recent research reports. Barclays raised shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $137.00 to $186.00 in a research report on Monday, January 6th. Wells Fargo & Company upped their target price on Discover Financial Services from $160.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. dropped their target price on Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada lifted their price objective on shares of 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. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $171.71.

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.