Miracle Mile Advisors LLC Increases Stock Position in Discover Financial Services (NYSE:DFS)

Miracle Mile Advisors LLC boosted its holdings in Discover Financial Services (NYSE:DFS) by 31.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,736 shares of the financial services provider’s stock after acquiring an additional 662 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Discover Financial Services were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its holdings in shares of Discover Financial Services by 0.8% in the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after acquiring an additional 80,601 shares during the period. FMR LLC boosted its stake in Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after purchasing an additional 558,227 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Discover Financial Services by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock valued at $257,391,000 after buying an additional 12,255 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Discover Financial Services by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock valued at $242,460,000 after buying an additional 7,751 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Discover Financial Services by 6.7% in the second quarter. Hsbc Holdings PLC now owns 1,181,333 shares of the financial services provider’s stock worth $154,064,000 after buying an additional 73,902 shares in the last quarter. Institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on DFS. Keefe, Bruyette & Woods boosted their price objective on shares of 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 initiated coverage on shares of Discover Financial Services in a report on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price target on the stock. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada lifted their price target on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $164.75.

Discover Financial Services Stock Performance

NYSE DFS opened at $187.49 on Thursday. The company has a 50-day simple moving average of $176.40 and a two-hundred day simple moving average of $151.42. Discover Financial Services has a 12-month low of $96.46 and a 12-month high of $188.99. The firm has a market cap of $47.12 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.12 and a beta of 1.46. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.41. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same period in the prior year, the business posted $2.59 EPS. On average, equities analysts forecast that Discover Financial Services will post 13.43 EPS for the current year.

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; 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.