UniSuper Management Pty Ltd Reduces Position in Discover Financial Services (NYSE:DFS)

UniSuper Management Pty Ltd lowered its position in Discover Financial Services (NYSE:DFS) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,842 shares of the financial services provider’s stock after selling 2,838 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Discover Financial Services were worth $3,610,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Discover Financial Services in the 4th quarter valued at $38,489,000. Nomura Asset Management Co. Ltd. increased its stake in Discover Financial Services by 10.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after purchasing an additional 10,946 shares during the period. Brookstone Capital Management purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at about $282,000. Meyer Handelman Co. acquired a new stake in shares of Discover Financial Services during the fourth quarter worth about $239,000. Finally, Mechanics Bank Trust Department purchased a new position in shares of Discover Financial Services during the fourth quarter worth about $234,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Trading Down 2.6 %

Shares of DFS opened at $158.23 on Friday. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $39.81 billion, a P/E ratio of 9.91, a PEG ratio of 1.51 and a beta of 1.45. The firm’s 50-day moving average is $184.39 and its two-hundred day moving average is $169.76.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.77%. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Analyst Ratings Changes

DFS has been the subject of several analyst reports. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays boosted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $192.40.

Discover Financial Services 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.