Alta Advisers Ltd Makes New $248,000 Investment in Discover Financial Services (NYSE:DFS)

Alta Advisers Ltd purchased a new stake in shares of Discover Financial Services (NYSE:DFS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,450 shares of the financial services provider’s stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Opal Wealth Advisors LLC bought a new stake in shares of Discover Financial Services in the 1st quarter valued at about $25,000. ORG Wealth Partners LLC bought a new stake in Discover Financial Services in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC lifted its position in Discover Financial Services by 438.2% in the first quarter. Golden State Wealth Management LLC now owns 183 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 149 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Discover Financial Services during the 4th quarter valued at $33,000. Finally, Flagship Wealth Advisors LLC bought a new stake in Discover Financial Services during the 4th quarter valued at $34,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Price Performance

Shares of DFS stock opened at $197.76 on Wednesday. The business’s fifty day moving average is $195.29 and its 200 day moving average is $183.69. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock has a market cap of $49.77 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. Discover Financial Services has a twelve month low of $122.37 and a twelve month high of $207.42.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.92. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same period in the prior year, the firm earned $1.10 EPS. Research analysts expect that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on DFS. JPMorgan Chase & Co. lowered their price objective on shares of Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $180.00 price target on shares of Discover Financial Services in a research report on Wednesday, May 7th. Wall Street Zen lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. TD Securities reduced their target price on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Argus raised Discover Financial Services to a “strong-buy” rating in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $191.64.

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.