Schroder Investment Management Group Reduces Stock Holdings in Discover Financial Services (NYSE:DFS)

Schroder Investment Management Group reduced its stake in Discover Financial Services (NYSE:DFSFree Report) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 447,503 shares of the financial services provider’s stock after selling 20,924 shares during the period. Schroder Investment Management Group owned 0.18% of Discover Financial Services worth $38,767,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Boston Partners increased its stake in Discover Financial Services by 56.5% in the third quarter. Boston Partners now owns 8,597,250 shares of the financial services provider’s stock valued at $743,663,000 after purchasing an additional 3,102,119 shares during the last quarter. FMR LLC grew its position in shares of Discover Financial Services by 4.4% during the third quarter. FMR LLC now owns 5,686,848 shares of the financial services provider’s stock worth $492,652,000 after acquiring an additional 238,498 shares during the last quarter. Morgan Stanley grew its position in shares of Discover Financial Services by 35.6% during the fourth quarter. Morgan Stanley now owns 4,927,342 shares of the financial services provider’s stock worth $482,042,000 after acquiring an additional 1,293,260 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Discover Financial Services during the second quarter worth approximately $495,973,000. Finally, Norges Bank purchased a new position in shares of Discover Financial Services during the fourth quarter worth approximately $340,672,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $106.51, for a total value of $3,748,193.41. Following the transaction, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays decreased their price target on Discover Financial Services from $124.00 to $112.00 and set an “equal weight” rating for the company in a report on Friday, January 19th. The Goldman Sachs Group decreased their price target on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 19th. HSBC downgraded Discover Financial Services from a “buy” rating to a “hold” rating and reduced their target price for the company from $121.00 to $107.00 in a report on Friday, January 19th. Bank of America raised Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the company from $94.00 to $116.00 in a report on Wednesday, December 6th. Finally, Stephens reissued an “equal weight” rating and issued a $98.00 target price on shares of Discover Financial Services in a report on Thursday, December 14th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $119.78.

Read Our Latest Research Report on Discover Financial Services

Discover Financial Services Trading Up 1.8 %

Discover Financial Services stock opened at $121.52 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49. The stock has a market cap of $30.45 billion, a PE ratio of 10.80, a P/E/G ratio of 1.53 and a beta of 1.45. The stock has a 50-day moving average price of $111.37 and a 200 day moving average price of $98.27. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $127.34.

Discover Financial Services (NYSE:DFSGet Free Report) last issued its earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.96). The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.77 EPS. Equities research analysts predict that Discover Financial Services will post 11.19 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 22nd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.30%. The ex-dividend date was Wednesday, February 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.89%.

Discover Financial Services Profile

(Free Report)

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.

See Also

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

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