AssuredPartners Investment Advisors LLC Makes New $215,000 Investment in Discover Financial Services (NYSE:DFS)

AssuredPartners Investment Advisors LLC purchased a new stake in Discover Financial Services (NYSE:DFS) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,241 shares of the financial services provider’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DFS. Kingsview Wealth Management LLC boosted its position in Discover Financial Services by 7.7% in the third quarter. Kingsview Wealth Management LLC now owns 1,664 shares of the financial services provider’s stock valued at $233,000 after buying an additional 119 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Discover Financial Services by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 386 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 135 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Discover Financial Services during the 3rd quarter worth $587,000. Private Trust Co. NA increased its holdings in Discover Financial Services by 73.8% in the 3rd quarter. Private Trust Co. NA now owns 1,373 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 583 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Discover Financial Services by 5.7% in the third quarter. D.A. Davidson & CO. now owns 10,029 shares of the financial services provider’s stock valued at $1,407,000 after purchasing an additional 539 shares during the last quarter. 86.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial lowered their price objective on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research note on Friday, March 21st. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price target for the company from $150.00 to $239.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $192.40.

Discover Financial Services Stock Down 2.6 %

Shares of Discover Financial Services stock opened at $158.23 on Friday. The stock’s 50-day moving average is $184.39 and its 200 day moving average is $169.76. Discover Financial Services has a one year low of $119.31 and a one year high of $205.76. The firm has a market cap of $39.81 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03.

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

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

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.