Eagle Asset Management Inc. trimmed its position in Discover Financial Services (NYSE:DFS) by 29.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,939 shares of the financial services provider’s stock after selling 33,126 shares during the quarter. Eagle Asset Management Inc.’s holdings in Discover Financial Services were worth $5,273,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rational Advisors LLC acquired a new stake in Discover Financial Services during the 3rd quarter worth $123,000. Chicago Partners Investment Group LLC acquired a new stake in Discover Financial Services during the 2nd quarter worth $168,000. Capstone Investment Advisors Netherlands B.V. acquired a new stake in Discover Financial Services during the 2nd quarter worth $157,000. San Francisco Sentry Investment Group CA acquired a new stake in Discover Financial Services during the 2nd quarter worth $170,000. Finally, Sun Life Financial INC raised its stake in Discover Financial Services by 19,871.4% during the 2nd quarter. Sun Life Financial INC now owns 2,796 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 2,782 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.
DFS has been the topic of several research analyst reports. ValuEngine lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Wells Fargo & Company initiated coverage on shares of Discover Financial Services in a research note on Tuesday, October 10th. They set a “market perform” rating and a $69.00 price target on the stock. Zacks Investment Research upgraded shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Buckingham Research initiated coverage on shares of Discover Financial Services in a research note on Monday, October 2nd. They set a “buy” rating and a $74.00 price target on the stock. Finally, Bank of America lifted their price target on shares of Discover Financial Services from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Discover Financial Services currently has a consensus rating of “Hold” and a consensus target price of $74.45.
Shares of Discover Financial Services (NYSE DFS) traded up $2.32 during trading hours on Tuesday, hitting $73.44. 3,998,000 shares of the stock traded hands, compared to its average volume of 2,644,308. The stock has a market capitalization of $25,843.63, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.87 and a beta of 1.53. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $74.33.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Tuesday, November 21st. Discover Financial Services’s payout ratio is 24.05%.
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Discover Financial Services Profile
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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