Discover Financial Services (NYSE:DFS) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lowered its position in Discover Financial Services (NYSE:DFS) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,072 shares of the financial services provider’s stock after selling 425 shares during the period. Impax Asset Management Group plc’s holdings in Discover Financial Services were worth $570,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Flputnam Investment Management Co. raised its position in shares of Discover Financial Services by 7.9% in the third quarter. Flputnam Investment Management Co. now owns 2,646 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 193 shares during the period. DAVENPORT & Co LLC raised its position in shares of Discover Financial Services by 335.4% during the 4th quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after purchasing an additional 49,145 shares during the last quarter. Vest Financial LLC raised its position in shares of Discover Financial Services by 18.8% during the 4th quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock worth $13,685,000 after purchasing an additional 19,283 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Discover Financial Services by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock worth $103,000,000 after purchasing an additional 16,532 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Discover Financial Services by 27.1% during the 4th quarter. Raymond James & Associates now owns 339,717 shares of the financial services provider’s stock worth $38,184,000 after purchasing an additional 72,452 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Discover Financial Services stock opened at $122.94 on Friday. The firm has a 50 day simple moving average of $120.26 and a 200-day simple moving average of $104.45. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $131.65. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $30.81 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.45.

Discover Financial Services (NYSE:DFSGet Free Report) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.96). Discover Financial Services had a net margin of 14.30% and a return on equity of 22.24%. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the company earned $3.77 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts expect that Discover Financial Services will post 11.42 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd were paid a $0.70 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.80 annualized dividend and a dividend yield of 2.28%. Discover Financial Services’s dividend payout ratio (DPR) is 24.89%.

Analysts Set New Price Targets

DFS has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. StockNews.com initiated coverage on shares of Discover Financial Services in a research report on Wednesday. They set a “hold” rating for the company. Stephens restated an “equal weight” rating and set a $98.00 price target on shares of Discover Financial Services in a research report on Thursday, December 14th. Finally, BMO Capital Markets reduced their price target on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $125.22.

Read Our Latest Stock Analysis on DFS

Insider Activity

In other news, CFO John Greene sold 35,191 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the completion of the sale, the chief financial officer now owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

About Discover Financial Services

(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.

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

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