Wealthspire Advisors LLC Sells 318 Shares of Discover Financial Services (NYSE:DFS)

Wealthspire Advisors LLC trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,799 shares of the financial services provider’s stock after selling 318 shares during the quarter. Wealthspire Advisors LLC’s holdings in Discover Financial Services were worth $831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in DFS. Private Advisor Group LLC increased its position in shares of Discover Financial Services by 2.0% in the third quarter. Private Advisor Group LLC now owns 13,181 shares of the financial services provider’s stock worth $1,849,000 after purchasing an additional 255 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Discover Financial Services in the 3rd quarter worth approximately $21,169,000. Assenagon Asset Management S.A. increased its holdings in shares of Discover Financial Services by 2.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 26,674 shares of the financial services provider’s stock worth $3,742,000 after buying an additional 685 shares during the last quarter. Dakota Wealth Management purchased a new stake in shares of Discover Financial Services during the 3rd quarter valued at $358,000. Finally, Allworth Financial LP lifted its holdings in shares of Discover Financial Services by 22.6% during the 3rd quarter. Allworth Financial LP now owns 4,808 shares of the financial services provider’s stock worth $675,000 after acquiring an additional 886 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Price Performance

DFS opened at $187.66 on Wednesday. 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 stock has a market capitalization of $47.16 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The stock’s 50 day moving average price is $187.49 and its 200-day moving average price is $164.38. 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 issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, equities research analysts predict that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

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

Analysts Set New Price Targets

DFS has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased 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. Truist Financial increased their price objective on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company boosted their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their target price on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently 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.