Royal London Asset Management Ltd. Acquires 2,865 Shares of Discover Financial Services (NYSE:DFS)

Royal London Asset Management Ltd. grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 101,117 shares of the financial services provider’s stock after acquiring an additional 2,865 shares during the period. Royal London Asset Management Ltd.’s holdings in Discover Financial Services were worth $13,227,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DFS. Opal Wealth Advisors LLC bought a new position in shares of Discover Financial Services during the second quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Discover Financial Services by 72.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 95 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after buying an additional 195 shares during the period. Riverview Trust Co acquired a new stake in shares of Discover Financial Services during the first quarter worth $34,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Discover Financial Services during the first quarter worth $34,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Up 0.5 %

Shares of NYSE DFS opened at $129.34 on Friday. The stock has a market capitalization of $32.44 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.86 and a beta of 1.42. The company has a 50-day moving average price of $133.87 and a 200-day moving average price of $127.91. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $147.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the company earned $3.54 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that Discover Financial Services will post 12.87 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Thursday, August 22nd. Discover Financial Services’s payout ratio is currently 31.93%.

Analysts Set New Price Targets

DFS has been the subject of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. BTIG Research initiated coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating for the company. BMO Capital Markets increased their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods raised their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $132.94.

Discover Financial Services Company 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; 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.