Cresset Asset Management LLC Decreases Holdings in Discover Financial Services (NYSE:DFS)

Cresset Asset Management LLC cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 87.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,458 shares of the financial services provider’s stock after selling 45,790 shares during the quarter. Cresset Asset Management LLC’s holdings in Discover Financial Services were worth $1,119,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Centiva Capital LP raised its stake in shares of Discover Financial Services by 744.1% during the fourth quarter. Centiva Capital LP now owns 30,000 shares of the financial services provider’s stock worth $5,197,000 after acquiring an additional 26,446 shares in the last quarter. Blackstone Inc. purchased a new position in shares of Discover Financial Services during the fourth quarter worth approximately $30,315,000. Cary Street Partners Financial LLC purchased a new position in shares of Discover Financial Services in the fourth quarter worth $198,000. Caxton Associates LP purchased a new position in shares of Discover Financial Services in the fourth quarter worth $37,978,000. Finally, Azora Capital LP purchased a new position in shares of Discover Financial Services in the fourth quarter worth $2,570,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Royal Bank of Canada lifted their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Truist Financial lifted their price target on shares of Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a report on Friday, April 25th. Finally, Barclays lifted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.64.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $190.10 on Monday. Discover Financial Services has a 12 month low of $119.95 and a 12 month high of $205.76. The stock has a market cap of $47.84 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The company’s fifty day moving average price is $168.89 and its 200-day moving average price is $176.92.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 EPS for the quarter, beating 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 analysts’ expectations of $4.25 billion. During the same quarter in the previous year, the business posted $1.10 EPS. On average, equities analysts expect that Discover Financial Services will post 13.88 EPS for the current fiscal year.

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.