MetLife Investment Management LLC lessened its stake in shares of Discover Financial Services (NYSE: DFS) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,751 shares of the financial services provider’s stock after selling 5,565 shares during the quarter. MetLife Investment Management LLC’s holdings in Discover Financial Services were worth $ 7,483,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in DFS. Allspring Global Investments Holdings LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter valued at approximately $ 225,394,000. Invesco Ltd. boosted its stake in shares of Discover Financial Services by 43.8% during the fourth quarter. Invesco Ltd. now owns 2,099,589 shares of the financial services provider’s stock valued at $ 242,629,000 after purchasing an additional 639,624 shares during the period. Boston Partners boosted its stake in shares of Discover Financial Services by 13.0% during the fourth quarter. Boston Partners now owns 4,347,646 shares of the financial services provider’s stock valued at $ 502,490,000 after purchasing an additional 501,073 shares during the period. Geode Capital Management LLC boosted its stake in shares of Discover Financial Services by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 6,364,472 shares of the financial services provider’s stock valued at $ 734,302,000 after purchasing an additional 360,707 shares during the period. Finally, KBC Group NV lifted its stake in Discover Financial Services by 334.2% in the fourth quarter. KBC Group NV now owns 373,111 shares of the financial services provider’s stock worth $ 43,116,000 after acquiring an additional 287,176 shares during the period. 85.53% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE: DFS opened at $ 98.14 on Monday. Discover Financial Services has a 1-year low of $ 98.01 and a 1-year high of $ 135.69. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day moving average price of $ 110.37 and a 200-day moving average price of $ 114.34. The company has a market capitalization of $ 27.57 billion, a PE ratio of 5.79, a PEG ratio of 0.22 and a beta of 1.45.
Discover Financial Services (NYSE: DFS – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $ 4.22 earnings per share for the quarter, beating the consensus estimate of $ 3.58 by $ 0.64. Discover Financial Services had a return on equity of 41.57% and a net margin of 38.42%. The firm had revenue of $ 2.90 billion during the quarter, compared to the estimate consensus of $ 2.99 billion. During the same period last year, the company earned $ 5.04 earnings per share. The company revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Discover Financial Services will post 14.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 9th. Stockholders of record on Thursday, May 26th were issued a dividend of $ 0.60 per share. The ex-dividend date was Wednesday, May 25th. This is an increase from Discover Financial Services’s previous quarterly dividend of $ 0.50. This represents a $ 2.40 annualized dividend and a dividend yield of 2.45%. Discover Financial Services’s dividend payout ratio (DPR) is presently 14.16%.
DFS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Discover Financial Services from $ 145.00 to $ 150.00 in a research note on Friday, April 29th. Citigroup raised their price target on Discover Financial Services from $ 154.00 to $ 157.00 in a research note on Friday, April 29th. Wells Fargo & Company dropped their price target on Discover Financial Services from $ 135.00 to $ 127.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 6th. Morgan Stanley dropped their price target on Discover Financial Services from $ 144.00 to $ 127.00 and set an “equal weight” rating for the company in a research note on Monday, March 28th. Finally, Wolfe Research lowered Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $ 97.00 price target for the company. in a research note on Thursday, May 12th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $ 139.63.
About Discover Financial Services: (Get Rating)
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.
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