Discover Financial Services (NYSE:DFS) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 38.8% during the fourth quarter, Holdings Channel reports. The firm owned 41,104 shares of the financial services provider’s stock after selling 26,055 shares during the quarter. NewEdge Wealth LLC’s holdings in Discover Financial Services were worth $7,120,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Carlson Capital L.P. acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $1,784,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Discover Financial Services by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,541 shares of the financial services provider’s stock worth $3,732,000 after purchasing an additional 107 shares during the period. ORBA Wealth Advisors L.L.C. raised its holdings in shares of Discover Financial Services by 16.8% during the fourth quarter. ORBA Wealth Advisors L.L.C. now owns 26,157 shares of the financial services provider’s stock worth $4,531,000 after purchasing an additional 3,761 shares during the period. Sabal Trust CO acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $200,000. Finally, FourThought Financial Partners LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $592,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

DFS stock opened at $191.20 on Friday. Discover Financial Services has a one year low of $118.74 and a one year high of $205.76. The firm has a 50-day moving average of $188.37 and a two-hundred day moving average of $164.75. The firm has a market capitalization of $48.11 billion, a PE ratio of 11.98, a P/E/G ratio of 1.51 and a beta of 1.46. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

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

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DFS. Wells Fargo & Company upped their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods upped their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their price target 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. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Finally, Barclays increased their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $191.91.

About Discover Financial Services

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.