iA Global Asset Management Inc. Has $1.74 Million Stock Holdings in Discover Financial Services (NYSE:DFS)

iA Global Asset Management Inc. cut its position in Discover Financial Services (NYSE:DFS) by 19.4% during the 4th quarter, HoldingsChannel reports. The firm owned 10,039 shares of the financial services provider’s stock after selling 2,416 shares during the quarter. iA Global Asset Management Inc.’s holdings in Discover Financial Services were worth $1,739,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Discover Financial Services during the fourth quarter worth $351,766,000. FMR LLC increased its position 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 acquiring an additional 558,227 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Discover Financial Services during the fourth quarter worth $39,067,000. Raymond James Financial Inc. bought a new stake in shares of Discover Financial Services during the fourth quarter worth $38,489,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Discover Financial Services during the fourth quarter worth $36,219,000. Institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DFS. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Barclays boosted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Truist Financial lowered their target price on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company increased their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $192.40.

Discover Financial Services Stock Performance

DFS opened at $164.90 on Friday. Discover Financial Services has a 12-month low of $119.31 and a 12-month high of $205.76. The stock has a market cap of $41.49 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.51 and a beta of 1.45. The business has a 50 day moving average of $186.18 and a 200-day moving average of $168.64. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, equities research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.70%. Discover Financial Services’s payout ratio is 17.54%.

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.