Royal London Asset Management Ltd. Purchases 1,690 Shares of Discover Financial Services (NYSE:DFS)

Royal London Asset Management Ltd. raised its position in Discover Financial Services (NYSE:DFSFree Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,399 shares of the financial services provider’s stock after purchasing an additional 1,690 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Discover Financial Services were worth $18,085,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Discover Financial Services in the fourth quarter valued at about $351,766,000. FMR LLC increased its stake in shares of Discover Financial Services by 8.0% in the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after buying an additional 558,227 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $39,067,000. Raymond James Financial Inc. acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $38,489,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $36,219,000. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Trading Up 0.3 %

Shares of Discover Financial Services stock opened at $164.90 on Friday. 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 $119.31 and a 52 week high of $205.76. The stock has a 50 day moving average price of $186.18 and a two-hundred day moving average price of $168.64. The stock has a market capitalization of $41.49 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFSGet Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.70%. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Keefe, Bruyette & Woods increased their price target 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 decreased their price target on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company increased their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Finally, StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $192.40.

View Our Latest Stock Analysis on Discover Financial Services

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; 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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