UBS Asset Management Americas Inc. decreased its holdings in Discover Financial Services (NYSE:DFS) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,396,120 shares of the financial services provider’s stock after selling 14,281 shares during the period. UBS Asset Management Americas Inc. owned 0.46% of Discover Financial Services worth $126,391,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management raised its stake in Discover Financial Services by 103.8% during the 3rd quarter. Neo Ivy Capital Management now owns 485 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 247 shares during the period. Key Financial Inc bought a new stake in shares of Discover Financial Services during the fourth quarter valued at approximately $31,000. Alpha DNA Investment Management LLC purchased a new position in shares of Discover Financial Services in the fourth quarter worth $32,000. Norway Savings Bank bought a new position in shares of Discover Financial Services during the fourth quarter worth $36,000. Finally, Bay Harbor Wealth Management LLC purchased a new position in Discover Financial Services during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.
Several brokerages have commented on DFS. Wells Fargo & Company boosted their price target on shares of Discover Financial Services from $105.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Monday, March 22nd. JPMorgan Chase & Co. boosted their target price on Discover Financial Services from $72.00 to $114.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 19th. Argus raised their price target on Discover Financial Services from $72.00 to $108.00 and gave the company a “buy” rating in a report on Friday, January 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on Discover Financial Services from $104.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, January 22nd. Finally, BMO Capital Markets raised their target price on shares of Discover Financial Services from $100.00 to $101.00 and gave the company an “outperform” rating in a report on Friday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $88.87.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.42 by $0.17. Discover Financial Services had a return on equity of 11.00% and a net margin of 7.89%. The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the company earned $2.25 EPS. Discover Financial Services’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities research analysts expect that Discover Financial Services will post 3.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 4th. Shareholders of record on Thursday, February 18th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Wednesday, February 17th. Discover Financial Services’s dividend payout ratio is 19.38%.
In other news, EVP Brian Hughes sold 10,000 shares of the company’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $93.91, for a total value of $939,100.00. Following the sale, the executive vice president now directly owns 56,620 shares of the company’s stock, valued at approximately $5,317,184.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carlos Minetti sold 19,260 shares of the stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $88.00, for a total transaction of $1,694,880.00. Following the completion of the sale, the executive vice president now owns 147,293 shares in the company, valued at approximately $12,961,784. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company 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; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.
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