Mirae Asset Global Investments Co. Ltd. Sells 15,420 Shares of Discover Financial Services (NYSE:DFS)

Mirae Asset Global Investments Co. Ltd. trimmed its position in Discover Financial Services (NYSE:DFS) by 30.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

Other institutional investors have also added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $225,000. Fulton Bank N.A. grew its stake in shares of Discover Financial Services by 24.6% during the fourth quarter. Fulton Bank N.A. now owns 8,151 shares of the financial services provider’s stock worth $916,000 after buying an additional 1,607 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Discover Financial Services during the fourth quarter worth $32,039,000. Camelot Portfolios LLC increased its holdings in shares of Discover Financial Services by 31.0% during the fourth quarter. Camelot Portfolios LLC now owns 19,194 shares of the financial services provider’s stock worth $2,157,000 after buying an additional 4,543 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Discover Financial Services in the 4th quarter valued at $315,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

DFS stock opened at $119.54 on Wednesday. The firm has a market cap 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. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49. The stock has a 50-day moving average price of $121.11 and a 200-day moving average price of $105.42. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $131.65.

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

Analyst Upgrades and Downgrades

DFS has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Evercore ISI boosted their price target on Discover Financial Services from $117.00 to $140.00 and gave the stock an “in-line” rating in a report on Thursday, February 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $140.00 price objective (up previously from $117.00) on shares of Discover Financial Services in a report on Wednesday, February 21st. Seaport Res Ptn lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a research note on Friday, January 19th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and an average target price of $125.22.

Insiders Place Their Bets

In other news, CFO John Greene sold 35,191 shares of Discover Financial Services 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 sale, the chief financial officer now owns 18,592 shares in the company, valued at approximately $1,980,233.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

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.