Boston Partners raised its holdings in shares of Discover Financial Services (NYSE:DFS – Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,072,829 shares of the financial services provider’s stock after buying an additional 475,579 shares during the period. Discover Financial Services comprises approximately 1.3% of Boston Partners’ portfolio, making the stock its 3rd largest position. Boston Partners owned about 3.63% of Discover Financial Services worth $1,017,046,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of DFS. Bruce G. Allen Investments LLC bought a new position in shares of Discover Financial Services during the fourth quarter valued at about $28,000. MeadowBrook Investment Advisors LLC purchased a new stake in Discover Financial Services in the 4th quarter worth approximately $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $35,000. First Command Advisory Services Inc. purchased a new position in shares of Discover Financial Services during the third quarter valued at approximately $39,000. Finally, Larson Financial Group LLC raised its holdings in shares of Discover Financial Services by 105.8% during the third quarter. Larson Financial Group LLC now owns 465 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 239 shares in the last quarter. 86.94% of the stock is owned by institutional investors.
Discover Financial Services Stock Down 0.5 %
NYSE:DFS traded down $0.64 on Friday, reaching $123.40. 979,142 shares of the stock traded hands, compared to its average volume of 1,289,724. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $131.65. The company’s fifty day simple moving average is $124.62 and its 200 day simple moving average is $109.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.73 and a beta of 1.43.
Discover Financial Services (NYSE:DFS – Get Free Report) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same quarter in the prior year, the firm earned $3.58 earnings per share. Equities analysts predict that Discover Financial Services will post 11.48 EPS for the current fiscal year.
Discover Financial Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s payout ratio is 31.93%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. Wolfe Research reissued a “peer perform” rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a report on Friday, January 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $140.00 target price (up previously from $117.00) on shares of Discover Financial Services in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. raised their target price on Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and an average target price of $126.29.
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; 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.