The Manufacturers Life Insurance Company Purchases 116,412 Shares of Discover Financial Services (NYSE:DFS)

The Manufacturers Life Insurance Company grew its position in shares of Discover Financial Services (NYSE:DFS) by 23.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 619,818 shares of the financial services provider’s stock after buying an additional 116,412 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.25% of Discover Financial Services worth $81,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in DFS. Opal Wealth Advisors LLC acquired a new position in shares of Discover Financial Services during the second quarter worth approximately $26,000. Y.D. More Investments Ltd lifted its position in shares of Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Discover Financial Services by 72.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 95 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 195 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Discover Financial Services during the first quarter worth approximately $34,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Up 0.7 %

Shares of NYSE:DFS opened at $139.25 on Friday. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. The company has a market capitalization of $34.92 billion, a PE ratio of 15.88, a PEG ratio of 0.94 and a beta of 1.42. The company has a 50 day moving average price of $134.48 and a two-hundred day moving average price of $129.19.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the firm earned $3.54 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. Analysts forecast that Discover Financial Services will post 12.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is 31.93%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DFS. JPMorgan Chase & Co. upped their target price on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Jefferies Financial Group upped their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods increased their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 8th. BMO Capital Markets increased their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Finally, StockNews.com initiated coverage on shares of Discover Financial Services in a report on Wednesday. They issued a “hold” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus target price of $132.94.

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.