Atria Wealth Solutions Inc. Has $1.37 Million Stake in Discover Financial Services (NYSE:DFS)

Atria Wealth Solutions Inc. grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 29.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,167 shares of the financial services provider’s stock after acquiring an additional 2,787 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Discover Financial Services were worth $1,368,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Flputnam Investment Management Co. increased its stake in shares of Discover Financial Services by 7.9% in the third quarter. Flputnam Investment Management Co. now owns 2,646 shares of the financial services provider’s stock valued at $229,000 after buying an additional 193 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Discover Financial Services by 335.4% in the fourth quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock valued at $7,171,000 after buying an additional 49,145 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Discover Financial Services by 1.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock valued at $103,000,000 after buying an additional 16,532 shares during the period. Vest Financial LLC increased its stake in shares of Discover Financial Services by 18.8% in the fourth quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock valued at $13,685,000 after buying an additional 19,283 shares during the period. Finally, Raymond James & Associates increased its position in Discover Financial Services by 27.1% during the 4th quarter. Raymond James & Associates now owns 339,717 shares of the financial services provider’s stock valued at $38,184,000 after purchasing an additional 72,452 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of DFS opened at $123.58 on Thursday. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The business’s fifty day moving average is $124.25 and its 200 day moving average is $108.13. The company has a quick ratio of 1.13, a current ratio of 1.05 and a debt-to-equity ratio of 1.49. The stock has a market cap of $30.96 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.77 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a return on equity of 16.74% and a net margin of 10.56%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the prior year, the business earned $3.58 earnings per share. Sell-side analysts anticipate that Discover Financial Services will post 11.39 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Analyst Upgrades and Downgrades

DFS has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Jefferies Financial Group increased their target price on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Citigroup increased their target price on shares of Discover Financial Services from $127.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on shares of Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Finally, Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus target price of $126.29.

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.