Mirae Asset Global Investments Co. Ltd. Has $4.05 Million Stake in Discover Financial Services (NYSE:DFS)

Mirae Asset Global Investments Co. Ltd. reduced its holdings in Discover Financial Services (NYSE:DFS) by 30.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,012 shares of the financial services provider’s stock after selling 15,420 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Discover Financial Services were worth $4,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DFS. Bruce G. Allen Investments LLC acquired a new position in shares of Discover Financial Services during the fourth quarter worth approximately $28,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Discover Financial Services during the 3rd quarter worth $30,000. Resurgent Financial Advisors LLC acquired a new position in Discover Financial Services during the 4th quarter worth $31,000. Pinnacle Bancorp Inc. boosted its position in Discover Financial Services by 282.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider’s stock valued at $33,000 after buying an additional 282 shares during the last quarter. Finally, Compass Wealth Management LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at $34,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the completion of the transaction, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Discover Financial Services Trading Down 1.5 %

NYSE:DFS opened at $119.54 on Wednesday. The business’s 50-day simple moving average is $121.11 and its 200-day simple moving average is $105.42. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $29.95 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 0.86 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.96). Discover Financial Services had a net margin of 14.30% and a return on equity of 22.24%. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the firm posted $3.77 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts expect that Discover Financial Services will post 11.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on DFS shares. HSBC raised their price target on Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $140.00 price target (up from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. Piper Sandler raised their price objective on shares of Discover Financial Services from $127.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Discover Financial Services from $140.00 to $111.00 and set a “hold” rating on the stock in a research note on Friday, January 19th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and a consensus target price of $125.22.

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; private student loans, 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.