Sawtooth Solutions LLC Decreases Stock Holdings in Discover Financial Services (NYSE:DFS)

Sawtooth Solutions LLC reduced its position in shares of Discover Financial Services (NYSE:DFSGet Rating) by 50.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,527 shares of the financial services provider’s stock after selling 7,549 shares during the period. Sawtooth Solutions LLC’s holdings in Discover Financial Services were worth $829,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Koshinski Asset Management Inc. lifted its position in shares of Discover Financial Services by 15.6% during the 1st quarter. Koshinski Asset Management Inc. now owns 680 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 92 shares during the last quarter. Impax Asset Management Group plc lifted its position in Discover Financial Services by 1.0% in the fourth quarter. Impax Asset Management Group plc now owns 9,892 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 95 shares during the last quarter. Toroso Investments LLC lifted its position in Discover Financial Services by 3.1% in the first quarter. Toroso Investments LLC now owns 3,299 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 98 shares during the last quarter. Schrum Private Wealth Management LLC lifted its position in Discover Financial Services by 4.2% in the first quarter. Schrum Private Wealth Management LLC now owns 2,507 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 100 shares during the last quarter. Finally, Atlas Capital Advisors LLC lifted its position in Discover Financial Services by 1.3% in the first quarter. Atlas Capital Advisors LLC now owns 7,636 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 100 shares during the last quarter. 83.92% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Trading Up 1.9 %

Shares of DFS opened at $100.91 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.43. The firm’s 50-day moving average is $102.68 and its two-hundred day moving average is $106.02. Discover Financial Services has a twelve month low of $88.02 and a twelve month high of $133.40. The firm has a market capitalization of $27.57 billion, a P/E ratio of 6.57, a PEG ratio of 0.22 and a beta of 1.43.

Discover Financial Services (NYSE:DFSGet Rating) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.19. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the business posted $5.55 earnings per share. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, research analysts predict that Discover Financial Services will post 15.35 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, August 24th. This represents a $2.40 annualized dividend and a yield of 2.38%. Discover Financial Services’s payout ratio is currently 15.63%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DFS. Wells Fargo & Company reduced their price target on shares of Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. Bank of America reduced their price target on shares of Discover Financial Services from $128.00 to $120.00 in a research report on Sunday, July 24th. Credit Suisse Group reduced their price target on shares of Discover Financial Services to $134.00 in a research report on Friday, July 22nd. Morgan Stanley reduced their target price on shares of Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating for the company in a report on Friday, July 22nd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Discover Financial Services from $150.00 to $135.00 in a report on Monday, July 11th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.75.

Discover Financial Services Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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