Discover Financial Services (NYSE:DFS) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Discover Financial Services (NYSE:DFS) by 63.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,916 shares of the financial services provider’s stock after selling 24,457 shares during the period. Intech Investment Management LLC’s holdings in Discover Financial Services were worth $1,952,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Gabelli Funds LLC acquired a new position in shares of Discover Financial Services during the first quarter valued at $983,000. Janus Henderson Group PLC raised its position in shares of Discover Financial Services by 61.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider’s stock worth $8,197,000 after buying an additional 23,702 shares in the last quarter. Dynasty Wealth Management LLC acquired a new stake in shares of Discover Financial Services in the 1st quarter worth approximately $1,035,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Discover Financial Services by 74.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,976 shares of the financial services provider’s stock valued at $1,046,000 after acquiring an additional 3,391 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Discover Financial Services by 10.0% during the first quarter. California State Teachers Retirement System now owns 404,849 shares of the financial services provider’s stock valued at $53,072,000 after acquiring an additional 36,941 shares during the period. Institutional investors own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DFS shares. Royal Bank of Canada lifted their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their target price on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Evercore ISI lifted their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $138.81.

Discover Financial Services Stock Up 2.5 %

DFS stock opened at $179.29 on Monday. Discover Financial Services has a twelve month low of $85.19 and a twelve month high of $188.26. The company has a market cap of $45.01 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The business has a 50 day moving average price of $152.29 and a two-hundred day moving average price of $137.83.

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, topping analysts’ consensus estimates of $3.28 by $0.41. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same period in the previous year, the company earned $2.59 earnings per share. Analysts anticipate that Discover Financial Services will post 13.34 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s payout ratio is currently 22.60%.

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.