Allianz Asset Management GmbH Reduces Stock Position in Discover Financial Services (NYSE:DFS)

Allianz Asset Management GmbH lessened its stake in Discover Financial Services (NYSE:DFSFree Report) by 22.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 676,885 shares of the financial services provider’s stock after selling 191,228 shares during the quarter. Allianz Asset Management GmbH owned 0.27% of Discover Financial Services worth $76,082,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Partnership Wealth Management LLC acquired a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new position in Discover Financial Services in the fourth quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Discover Financial Services during the fourth quarter worth $31,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Discover Financial Services during the fourth quarter worth $35,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Discover Financial Services during the third quarter worth $39,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

DFS has been the subject of a number of recent research reports. HSBC lifted their target price on Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Jefferies Financial Group lifted their price target on Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $140.00 price target (up from $117.00) on shares of Discover Financial Services in a report on Wednesday, February 21st. Citigroup lifted their price target on Discover Financial Services from $127.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Seaport Res Ptn downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $126.29.

Check Out Our Latest Report on Discover Financial Services

Discover Financial Services Stock Performance

NYSE DFS traded down $1.32 on Wednesday, hitting $120.50. 426,524 shares of the company’s stock were exchanged, compared to its average volume of 1,977,056. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s 50-day moving average price is $125.20 and its two-hundred day moving average price is $113.63. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65. The firm has a market cap of $30.20 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 0.75 and a beta of 1.43.

Discover Financial Services (NYSE:DFSGet Free Report) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same quarter in the previous year, the firm posted $3.58 EPS. On average, research analysts expect that Discover Financial Services will post 11.48 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

Discover Financial Services Company 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.

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

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