Discover Financial Services (NYSE:DFS) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in shares of Discover Financial Services (NYSE:DFSFree Report) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,044 shares of the financial services provider’s stock after acquiring an additional 892 shares during the period. First Trust Direct Indexing L.P.’s holdings in Discover Financial Services were worth $2,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Trexquant Investment LP increased its position in Discover Financial Services by 105.0% in the third quarter. Trexquant Investment LP now owns 10,586 shares of the financial services provider’s stock worth $917,000 after buying an additional 5,423 shares during the period. Gotham Asset Management LLC increased its position in Discover Financial Services by 482.8% in the third quarter. Gotham Asset Management LLC now owns 19,284 shares of the financial services provider’s stock worth $1,671,000 after buying an additional 15,975 shares during the period. Axxcess Wealth Management LLC increased its position in Discover Financial Services by 102.3% in the third quarter. Axxcess Wealth Management LLC now owns 3,505 shares of the financial services provider’s stock worth $304,000 after buying an additional 1,772 shares during the period. Lido Advisors LLC increased its position in Discover Financial Services by 5.0% in the third quarter. Lido Advisors LLC now owns 6,209 shares of the financial services provider’s stock worth $538,000 after buying an additional 298 shares during the period. Finally, JT Stratford LLC increased its position in Discover Financial Services by 44.2% in the third quarter. JT Stratford LLC now owns 10,103 shares of the financial services provider’s stock worth $875,000 after buying an additional 3,096 shares during the period. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DFS has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Barclays increased their price target on Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. BTIG Research assumed coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Jefferies Financial Group increased their price target on Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, StockNews.com assumed coverage on Discover Financial Services in a research note on Saturday, June 29th. They issued a “hold” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and an average price target of $126.29.

Read Our Latest Research Report on Discover Financial Services

Discover Financial Services Stock Performance

DFS opened at $132.06 on Friday. The firm has a market capitalization of $33.12 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 0.80 and a beta of 1.44. The stock’s 50 day moving average price is $125.08 and its two-hundred day moving average price is $119.32. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $133.78.

Discover Financial Services (NYSE:DFSGet Free Report) last released 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). The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same period last year, the business earned $3.58 EPS. On average, equities analysts forecast that Discover Financial Services will post 11.47 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 22nd. Discover Financial Services’s payout ratio is presently 31.93%.

Discover Financial Services Company 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.

Further Reading

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

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