Mitsubishi UFJ Asset Management Co. Ltd. Has $69.61 Million Stock Holdings in Discover Financial Services (NYSE:DFS)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Discover Financial Services (NYSE:DFS) by 8.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 395,378 shares of the financial services provider’s stock after acquiring an additional 30,624 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Discover Financial Services were worth $69,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Discover Financial Services during the third quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Discover Financial Services during the 4th quarter valued at $33,000. Flagship Wealth Advisors LLC bought a new stake in shares of Discover Financial Services during the 4th quarter valued at $34,000. Grove Bank & Trust boosted its position in shares of Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $35,000. 86.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. 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 note on Friday, January 24th. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Finally, Truist Financial dropped their price objective on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $192.40.

Discover Financial Services Stock Down 2.6 %

DFS stock opened at $158.23 on Friday. 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 stock has a market capitalization of $39.81 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.51 and a beta of 1.45. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The business has a 50-day moving average of $184.39 and a 200-day moving average of $169.76.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share 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%. On average, sell-side analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given 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 1.77%. Discover Financial Services’s dividend payout ratio (DPR) is presently 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.