Spire Wealth Management Sells 86 Shares of Discover Financial Services (NYSE:DFS)

Spire Wealth Management reduced its position in Discover Financial Services (NYSE:DFS) by 3.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,703 shares of the financial services provider’s stock after selling 86 shares during the period. Spire Wealth Management’s holdings in Discover Financial Services were worth $461,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rehmann Capital Advisory Group grew its holdings in Discover Financial Services by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 5,152 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Discover Financial Services by 4.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider’s stock worth $244,000 after buying an additional 57 shares during the last quarter. MGO One Seven LLC increased its position in Discover Financial Services by 3.2% during the 4th quarter. MGO One Seven LLC now owns 1,821 shares of the financial services provider’s stock valued at $315,000 after buying an additional 57 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in Discover Financial Services by 2.3% in the first quarter. Miracle Mile Advisors LLC now owns 2,799 shares of the financial services provider’s stock valued at $478,000 after buying an additional 63 shares during the last quarter. Finally, Midwest Professional Planners LTD. raised its stake in Discover Financial Services by 0.8% in the fourth quarter. Midwest Professional Planners LTD. now owns 8,464 shares of the financial services provider’s stock valued at $1,466,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

DFS has been the topic of several recent analyst reports. Argus upgraded shares of Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. TD Securities lowered their price objective on shares of Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Wall Street Zen downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Truist Financial raised their target price on Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Discover Financial Services currently has an average rating of “Moderate Buy” and an average target price of $191.64.

Discover Financial Services Trading Down 1.4%

Shares of Discover Financial Services stock opened at $197.76 on Friday. The firm has a 50-day simple moving average of $194.14 and a two-hundred day simple moving average of $183.39. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a fifty-two week low of $122.37 and a fifty-two week high of $207.42. The company has a market cap of $49.77 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.92. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the prior year, the firm posted $1.10 EPS. As a group, equities analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

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; 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.