44 Wealth Management LLC Sells 110 Shares of Discover Financial Services (NYSE:DFS)

44 Wealth Management LLC reduced its holdings in shares of Discover Financial Services (NYSE:DFS) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,646 shares of the financial services provider’s stock after selling 110 shares during the quarter. 44 Wealth Management LLC’s holdings in Discover Financial Services were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its position in shares of Discover Financial Services by 0.8% during the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after buying an additional 80,601 shares during the last quarter. FMR LLC lifted its position in shares of Discover Financial Services by 8.0% during the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after buying an additional 558,227 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Discover Financial Services during the 4th quarter worth $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Discover Financial Services by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock worth $257,391,000 after buying an additional 12,255 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Discover Financial Services by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock valued at $242,460,000 after purchasing an additional 7,751 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DFS has been the subject of several research reports. Evercore ISI increased their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Truist Financial increased their target price on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their target price on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Royal Bank of Canada increased their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Finally, UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their target price for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and a consensus target price of $186.46.

Discover Financial Services Price Performance

Shares of DFS opened at $194.21 on Friday. Discover Financial Services has a 1 year low of $118.74 and a 1 year high of $205.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The company has a market capitalization of $48.81 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The business has a 50-day moving average of $186.87 and a 200-day moving average of $163.19.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. As a group, equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.44%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Discover Financial Services 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.