Discover Financial Services (NYSE:DFS) Shares Sold by PFG Investments LLC

PFG Investments LLC lowered its position in Discover Financial Services (NYSE:DFS) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,636 shares of the financial services provider’s stock after selling 82 shares during the quarter. PFG Investments LLC’s holdings in Discover Financial Services were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Discover Financial Services in the fourth quarter worth $322,199,000. Envestnet Asset Management Inc. increased its holdings in Discover Financial Services by 60.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after purchasing an additional 803,738 shares in the last quarter. Elser Financial Planning Inc purchased a new position in Discover Financial Services in the second quarter valued at about $91,044,000. Magnetar Financial LLC acquired a new position in shares of Discover Financial Services during the first quarter worth about $71,693,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Discover Financial Services by 67.5% in the fourth 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 buying an additional 506,801 shares during the period. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 1.6 %

Discover Financial Services stock opened at $131.33 on Friday. 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 has a 1 year low of $79.04 and a 1 year high of $147.61. The firm’s 50-day moving average is $133.92 and its 200-day moving average is $128.01. The company has a market cap of $32.97 billion, a P/E ratio of 14.97, a PEG ratio of 0.86 and a beta of 1.42.

Discover Financial Services (NYSE:DFS) last issued 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. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. Discover Financial Services’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $3.54 earnings per share. On average, equities analysts expect that Discover Financial Services will post 12.87 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.13%. Discover Financial Services’s payout ratio is currently 31.93%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DFS shares. Jefferies Financial Group boosted their price target on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods upped their target price 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. BTIG Research assumed coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating on the stock. StockNews.com began coverage on shares of Discover Financial Services in a research report on Monday, September 9th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada raised their target price 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. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $132.94.

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; 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.