Los Angeles Capital Management LLC Sells 4,818 Shares of Discover Financial Services (NYSE:DFS)

Los Angeles Capital Management LLC reduced its position in shares of Discover Financial Services (NYSE:DFS) by 2.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 191,643 shares of the financial services provider’s stock after selling 4,818 shares during the period. Los Angeles Capital Management LLC’s holdings in Discover Financial Services were worth $21,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at about $354,824,000. Invesco Ltd. boosted its holdings in shares of Discover Financial Services by 43.8% during the fourth quarter. Invesco Ltd. now owns 2,099,589 shares of the financial services provider’s stock worth $242,629,000 after acquiring an additional 639,624 shares during the period. Boston Partners boosted its holdings in shares of Discover Financial Services by 13.0% during the fourth quarter. Boston Partners now owns 4,347,646 shares of the financial services provider’s stock worth $502,490,000 after acquiring an additional 501,073 shares during the period. BlackRock Inc. boosted its holdings in shares of Discover Financial Services by 2.3% during the fourth quarter. BlackRock Inc. now owns 20,610,036 shares of the financial services provider’s stock worth $2,381,696,000 after acquiring an additional 457,067 shares during the period. Finally, Polaris Wealth Advisory Group LLC acquired a new stake in shares of Discover Financial Services in the first quarter valued at approximately $39,524,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Discover Financial Services Stock Performance

NYSE:DFS opened at $102.35 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.26 and a current ratio of 1.26. Discover Financial Services has a fifty-two week low of $88.02 and a fifty-two week high of $135.69. The firm has a market cap of $27.96 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 0.23 and a beta of 1.45. The business has a 50 day moving average price of $100.99 and a 200-day moving average price of $109.23.

Discover Financial Services (NYSE:DFSGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.19. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.55 EPS. Equities research analysts predict that Discover Financial Services will post 15.21 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 25th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.34%. Discover Financial Services’s dividend payout ratio is presently 15.63%.

Analyst Ratings Changes

Several brokerages have commented on DFS. Bank of America lowered their price objective on shares of Discover Financial Services from $128.00 to $120.00 in a research report on Sunday, July 24th. Piper Sandler lifted their target price on Discover Financial Services to $132.00 in a report on Friday, July 22nd. Wells Fargo & Company decreased their price objective on Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, July 13th. Barclays decreased their price target on Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating for the company in a report on Friday, July 22nd. Finally, Credit Suisse Group decreased their price target on Discover Financial Services to $134.00 in a report on Friday, July 22nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.56.

Discover Financial Services Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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