Dynamic Advisor Solutions LLC Purchases New Holdings in Discover Financial Services (NYSE:DFS)

Dynamic Advisor Solutions LLC purchased a new stake in shares of Discover Financial Services (NYSE:DFS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,108 shares of the financial services provider’s stock, valued at approximately $236,000.

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in Discover Financial Services during the 4th quarter valued at about $340,672,000. Boston Partners increased its stake in Discover Financial Services by 56.5% during the 3rd quarter. Boston Partners now owns 8,597,250 shares of the financial services provider’s stock valued at $743,663,000 after purchasing an additional 3,102,119 shares in the last quarter. First Trust Advisors LP increased its stake in Discover Financial Services by 489.5% during the 1st quarter. First Trust Advisors LP now owns 1,999,341 shares of the financial services provider’s stock valued at $220,307,000 after purchasing an additional 1,660,180 shares in the last quarter. Morgan Stanley increased its stake in Discover Financial Services by 35.6% during the 4th quarter. Morgan Stanley now owns 4,927,342 shares of the financial services provider’s stock valued at $482,042,000 after purchasing an additional 1,293,260 shares in the last quarter. Finally, Palestra Capital Management LLC bought a new stake in Discover Financial Services during the 3rd quarter valued at about $81,865,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of the business’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 transaction, the chief financial officer now owns 18,592 shares of the company’s stock, valued at $1,980,233.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.69% of the company’s stock.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $125.25 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.13 and a quick ratio of 1.13. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $127.90. The company has a market capitalization of $31.38 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.39 and a beta of 1.45. The firm’s 50 day simple moving average is $114.02 and its two-hundred day simple moving average is $100.95.

Discover Financial Services (NYSE:DFSGet Free Report) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the firm earned $3.77 EPS. Discover Financial Services’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts expect that Discover Financial Services will post 11.13 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Wednesday, February 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.89%.

Analysts Set New Price Targets

DFS has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, January 19th. HSBC lifted their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. StockNews.com began coverage on shares of Discover Financial Services in a research note on Monday. They issued a “hold” rating for the company. BMO Capital Markets reduced their price target on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Finally, Stephens reiterated an “equal weight” rating and issued a $98.00 price target on shares of Discover Financial Services in a research note on Thursday, December 14th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.83.

Check Out Our Latest Analysis on Discover Financial Services

Discover Financial Services Profile

(Free Report)

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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