Integrated Quantitative Investments LLC Purchases Shares of 2,440 Discover Financial Services (NYSE:DFS)

Integrated Quantitative Investments LLC purchased a new position in Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,440 shares of the financial services provider’s stock, valued at approximately $423,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hemington Wealth Management increased its stake in Discover Financial Services by 11.0% in the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 50 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Discover Financial Services by 0.6% during the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock worth $1,602,000 after purchasing an additional 56 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Discover Financial Services by 0.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 57 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Discover Financial Services by 4.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 57 shares in the last quarter. Finally, Invst LLC lifted its position in Discover Financial Services by 0.9% during the third quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Down 9.0 %

Shares of Discover Financial Services stock opened at $146.77 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76. The company’s 50 day moving average price is $181.35 and its 200-day moving average price is $170.95. The stock has a market capitalization of $36.93 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 1.51 and a beta of 1.45.

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 net margin of 17.29% and a return on equity of 26.18%. Equities research analysts forecast that Discover Financial Services will post 13.88 EPS 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. Shareholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

Analyst Upgrades and Downgrades

DFS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Royal Bank of Canada increased their target price 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. Barclays raised their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Finally, Truist Financial dropped their target price on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $192.40.

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.