Discover Financial Services (NYSE:DFS) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its position in Discover Financial Services (NYSE:DFS) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,580 shares of the financial services provider’s stock after selling 302 shares during the period. Hartford Investment Management Co.’s holdings in Discover Financial Services were worth $2,699,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DFS. FMR LLC grew its holdings in Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after buying an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in Discover Financial Services by 1,272.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock valued at $37,199,000 after acquiring an additional 245,829 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Discover Financial Services during the fourth quarter valued at approximately $39,067,000. International Assets Investment Management LLC acquired a new position in shares of Discover Financial Services in the 3rd quarter worth $21,169,000. Finally, KBC Group NV raised its holdings in Discover Financial Services by 19.0% during the 4th quarter. KBC Group NV now owns 924,033 shares of the financial services provider’s stock worth $160,070,000 after buying an additional 147,558 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

DFS opened at $188.34 on Thursday. Discover Financial Services has a 52-week low of $107.10 and a 52-week high of $205.76. The firm has a market capitalization of $47.33 billion, a PE ratio of 11.80, a PEG ratio of 0.63 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The business’s 50-day simple moving average is $183.87 and its 200 day simple moving average is $159.97.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. As a group, sell-side analysts expect that Discover Financial Services will post 13.57 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.49%. Discover Financial Services’s dividend payout ratio is 17.54%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DFS shares. Wells Fargo & Company increased their price objective on 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. Evercore ISI raised their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Royal Bank of Canada lifted their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Finally, StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $186.46.

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.