Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Discover Financial Services (NYSE:DFS)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Discover Financial Services (NYSE:DFSGet Rating) by 38.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,356 shares of the financial services provider’s stock after acquiring an additional 13,931 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Discover Financial Services were worth $5,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at about $354,824,000. First Trust Advisors LP raised its holdings in shares of Discover Financial Services by 489.5% in the first quarter. First Trust Advisors LP now owns 1,999,341 shares of the financial services provider’s stock valued at $220,307,000 after buying an additional 1,660,180 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Discover Financial Services by 43.8% in the fourth quarter. Invesco Ltd. now owns 2,099,589 shares of the financial services provider’s stock valued at $242,629,000 after buying an additional 639,624 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Discover Financial Services by 2.3% in the fourth quarter. BlackRock Inc. now owns 20,610,036 shares of the financial services provider’s stock valued at $2,381,696,000 after buying an additional 457,067 shares during the last quarter. Finally, Polaris Wealth Advisory Group LLC purchased a new stake in shares of Discover Financial Services in the first quarter valued at about $39,524,000. 83.92% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Performance

Shares of DFS opened at $94.97 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $25.94 billion, a price-to-earnings ratio of 6.18, a PEG ratio of 0.22 and a beta of 1.43. The company’s 50 day simple moving average is $102.66 and its 200 day simple moving average is $105.45. Discover Financial Services has a 1 year low of $88.02 and a 1 year high of $133.40.

Discover Financial Services (NYSE:DFSGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.75 by $0.21. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.55 earnings per share. On average, sell-side analysts predict that Discover Financial Services will post 15.37 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Wednesday, August 24th. Discover Financial Services’s dividend payout ratio is currently 15.63%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DFS. Keefe, Bruyette & Woods dropped their price target on shares of Discover Financial Services from $150.00 to $135.00 in a research note on Monday, July 11th. Morgan Stanley lowered their target price on shares of Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Discover Financial Services from $150.00 to $140.00 in a research report on Friday, July 22nd. Barclays lowered their target price on shares of Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating on the stock in a research report on Friday, July 22nd. Finally, Bank of America lowered their target price on shares of Discover Financial Services from $128.00 to $120.00 in a research report on Sunday, July 24th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Discover Financial Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.88.

Discover Financial Services 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.

See Also

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

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