UBS Asset Management Americas Inc. cut its position in shares of Discover Financial Services (NYSE:DFS) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,396,120 shares of the financial services provider’s stock after selling 14,281 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Discover Financial Services were worth $126,391,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of DFS. Key Financial Inc bought a new position in Discover Financial Services during the 4th quarter worth $31,000. Alpha DNA Investment Management LLC acquired a new position in Discover Financial Services during the fourth quarter worth about $32,000. Norway Savings Bank bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $36,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $37,000. Finally, AJO LP raised its holdings in Discover Financial Services by 156.2% during the 4th quarter. AJO LP now owns 456 shares of the financial services provider’s stock worth $41,000 after buying an additional 278 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.
DFS stock opened at $98.80 on Thursday. Discover Financial Services has a 1-year low of $31.09 and a 1-year high of $104.49. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.38. The business’s 50 day moving average is $96.52 and its 200-day moving average is $83.24. The firm has a market cap of $30.27 billion, a P/E ratio of 30.40, a P/E/G ratio of 4.21 and a beta of 1.80.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 4th. Shareholders of record on Thursday, February 18th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Wednesday, February 17th. Discover Financial Services’s payout ratio is presently 19.38%.
A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Discover Financial Services from $105.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, March 22nd. JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $72.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, January 19th. Morgan Stanley boosted their target price on shares of Discover Financial Services from $107.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, January 22nd. BMO Capital Markets upped their target price on shares of Discover Financial Services from $100.00 to $101.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. Finally, Argus raised their price target on shares of Discover Financial Services from $72.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, January 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $88.87.
In other Discover Financial Services news, EVP Carlos Minetti sold 19,260 shares of the firm’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $88.00, for a total value of $1,694,880.00. Following the transaction, the executive vice president now directly owns 147,293 shares of the company’s stock, valued at $12,961,784. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Brian Hughes sold 10,000 shares of the firm’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $93.91, for a total value of $939,100.00. Following the completion of the transaction, the executive vice president now owns 56,620 shares in the company, valued at $5,317,184.20. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
Discover Financial Services Company Profile
Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company 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; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.
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