Discover Financial Services (NYSE:DFS) Shares Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP raised its position in Discover Financial Services (NYSE:DFS) by 149.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 208,265 shares of the financial services provider’s stock after purchasing an additional 124,742 shares during the quarter. Discover Financial Services comprises approximately 1.8% of Cinctive Capital Management LP’s investment portfolio, making the stock its 4th biggest holding. Cinctive Capital Management LP owned 0.08% of Discover Financial Services worth $36,078,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DFS. Vanguard Group Inc. increased its position in Discover Financial Services by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock valued at $5,377,961,000 after acquiring an additional 290,937 shares during the period. State Street Corp grew its stake in shares of Discover Financial Services by 0.8% in the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after purchasing an additional 80,601 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Discover Financial Services by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider’s stock valued at $1,082,826,000 after purchasing an additional 165,589 shares during the period. Norges Bank bought a new stake in shares of Discover Financial Services during the fourth quarter valued at about $724,720,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Discover Financial Services in the fourth quarter worth about $351,766,000. Institutional investors own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial dropped their price target on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Royal Bank of Canada increased their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $192.40.

Discover Financial Services Price Performance

DFS stock opened at $170.32 on Wednesday. The firm has a 50-day moving average of $183.68 and a two-hundred day moving average of $170.89. The firm has a market capitalization of $42.85 billion, a PE ratio of 10.67, a P/E/G ratio of 1.51 and a beta of 1.45. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a one year low of $119.31 and a one year high of $205.76.

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

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.64%. Discover Financial Services’s dividend payout ratio is 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.