Discover Financial Services (NYSE:DFS) Shares Acquired by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Discover Financial Services (NYSE:DFS) by 182.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,555 shares of the financial services provider’s stock after purchasing an additional 23,605 shares during the quarter. Discover Financial Services makes up about 1.1% of GABELLI & Co INVESTMENT ADVISERS INC.’s investment portfolio, making the stock its 26th largest holding. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Discover Financial Services were worth $6,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Discover Financial Services in the fourth quarter valued at approximately $38,489,000. Brookstone Capital Management bought a new position in Discover Financial Services during the 4th quarter worth $282,000. Meyer Handelman Co. bought a new stake in Discover Financial Services in the fourth quarter valued at $239,000. Mechanics Bank Trust Department acquired a new position in shares of Discover Financial Services during the fourth quarter valued at $234,000. Finally, JBGlobal.com LLC bought a new position in shares of Discover Financial Services during the fourth quarter worth about $346,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Up 1.3 %

DFS stock opened at $159.16 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market capitalization of $40.05 billion, a P/E ratio of 9.97, a P/E/G ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76. The company’s 50 day simple moving average is $174.55 and its 200-day simple moving average is $172.23.

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

Discover Financial Services Announces Dividend

The business 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. This represents a $2.80 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analyst Upgrades and Downgrades

DFS has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of 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. Royal Bank of Canada boosted their price objective on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Barclays boosted their price target on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Truist Financial decreased their target price on shares of 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 assigned a buy rating to the company. Based on data from MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and an average price target of $188.40.

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.