Discover Financial Services (NYSE:DFS) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lowered its holdings in shares of Discover Financial Services (NYSE:DFS) by 38.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,104 shares of the financial services provider’s stock after selling 26,055 shares during the period. NewEdge Wealth LLC’s holdings in Discover Financial Services were worth $7,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Discover Financial Services during the fourth quarter worth about $351,766,000. FMR LLC grew its holdings in shares of Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after buying an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Discover Financial Services by 1,272.0% during the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after buying an additional 245,829 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter worth about $39,067,000. Finally, KBC Group NV grew its holdings in shares of Discover Financial Services by 19.0% during the fourth quarter. KBC Group NV now owns 924,033 shares of the financial services provider’s stock worth $160,070,000 after buying an additional 147,558 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Ratings Changes

DFS has been the subject of a number of recent research reports. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Truist Financial boosted their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Barclays boosted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their target price on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Discover Financial Services has a consensus rating of “Hold” and an average price target of $191.91.

Discover Financial Services Trading Up 0.5 %

NYSE DFS opened at $191.20 on Friday. The company’s fifty day simple moving average is $188.37 and its 200-day simple moving average is $164.75. Discover Financial Services has a 52 week low of $118.74 and a 52 week high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The stock has a market cap of $48.11 billion, a P/E ratio of 11.98, a PEG ratio of 1.51 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Equities research analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.46%. Discover Financial Services’s dividend payout ratio is presently 17.54%.

About Discover Financial Services

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.