Sage Investment Counsel LLC Makes New $913,000 Investment in Discover Financial Services (NYSE:DFS)

Sage Investment Counsel LLC bought a new position in Discover Financial Services (NYSE:DFS) in the fourth quarter, HoldingsChannel reports. The fund bought 5,273 shares of the financial services provider’s stock, valued at approximately $913,000. Discover Financial Services accounts for approximately 1.2% of Sage Investment Counsel LLC’s investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Discover Financial Services in the third quarter valued at about $30,000. Grove Bank & Trust increased its stake in shares of Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the period. Bfsg LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $35,000. Hantz Financial Services Inc. acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $37,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Up 2.2 %

Shares of NYSE:DFS opened at $195.38 on Friday. The business’s 50 day simple moving average is $188.81 and its two-hundred day simple moving average is $165.25. The firm has a market cap of $49.16 billion, a P/E ratio of 12.24, a PEG ratio of 1.51 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. Discover Financial Services has a 52-week low of $118.74 and a 52-week high of $205.76.

Discover Financial Services (NYSE:DFS) last announced its quarterly 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, research analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.43%. Discover Financial Services’s payout ratio is currently 17.54%.

Wall Street Analyst Weigh In

DFS has been the subject of several recent research reports. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Royal Bank of Canada increased their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. 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 report on Monday, December 9th. Finally, Barclays upped their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $191.91.

Discover Financial Services Company 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.