Desjardins Global Asset Management Inc. Sells 200 Shares of Discover Financial Services (NYSE:DFS)

Desjardins Global Asset Management Inc. decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 16.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,034 shares of the financial services provider’s stock after selling 200 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Discover Financial Services were worth $116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in Discover Financial Services during the fourth quarter worth about $28,000. Resurgent Financial Advisors LLC bought a new position in Discover Financial Services during the fourth quarter worth about $31,000. Pinnacle Bancorp Inc. lifted its stake in Discover Financial Services by 282.0% during the third quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 282 shares during the period. Compass Wealth Management LLC bought a new position in Discover Financial Services during the fourth quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Discover Financial Services during the fourth quarter worth about $35,000. Institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DFS shares. HSBC raised their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Citigroup raised their price objective on shares of Discover Financial Services from $127.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Morgan Stanley raised shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $105.00 to $133.00 in a report on Thursday, February 8th. JPMorgan Chase & Co. raised their price objective on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, Seaport Res Ptn lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and a consensus target price of $125.94.

Insider Transactions at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of Discover Financial Services stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the transaction, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at $1,980,233.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.69% of the company’s stock.

Discover Financial Services Price Performance

DFS opened at $125.35 on Friday. The company has a fifty day moving average price of $122.02 and a two-hundred day moving average price of $105.90. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.13 and a current ratio of 1.13. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $131.65. The firm has a market capitalization of $31.41 billion, a PE ratio of 14.29, a P/E/G ratio of 0.85 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last released its 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). Discover Financial Services had a return on equity of 17.21% and a net margin of 10.56%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period in the prior year, the firm posted $3.58 EPS. As a group, analysts anticipate that Discover Financial Services will post 11.2 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.23%. Discover Financial Services’s dividend payout ratio is 31.93%.

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.