Court Place Advisors LLC Takes $210,000 Position in Discover Financial Services (NYSE:DFS)

Court Place Advisors LLC acquired a new stake in Discover Financial Services (NYSE:DFS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,869 shares of the financial services provider’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flputnam Investment Management Co. lifted its position in Discover Financial Services by 7.9% during the 3rd quarter. Flputnam Investment Management Co. now owns 2,646 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 193 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in Discover Financial Services by 335.4% during the 4th quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after purchasing an additional 49,145 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Discover Financial Services by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock worth $103,000,000 after purchasing an additional 16,532 shares during the last quarter. Vest Financial LLC increased its holdings in Discover Financial Services by 18.8% during the 4th quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock worth $13,685,000 after purchasing an additional 19,283 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in Discover Financial Services by 27.1% during the 4th quarter. Raymond James & Associates now owns 339,717 shares of the financial services provider’s stock worth $38,184,000 after purchasing an additional 72,452 shares during the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

NYSE:DFS traded up $0.36 during midday trading on Wednesday, reaching $119.93. 1,742,242 shares of the company traded hands, compared to its average volume of 2,258,674. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $131.65. The firm has a market capitalization of $30.05 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.86 and a beta of 1.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.13 and a quick ratio of 1.13. The company has a fifty day moving average price of $121.11 and a 200 day moving average price of $105.42.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($1.93). Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. During the same period last year, the business posted $3.58 EPS. On average, analysts expect that Discover Financial Services will post 11.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DFS has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Seaport Res Ptn downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. The Goldman Sachs Group lowered their price target on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 19th. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, Piper Sandler boosted their price target on Discover Financial Services from $127.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services has an average rating of “Hold” and a consensus target price of $125.22.

Insiders Place Their Bets

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the completion of the transaction, the chief financial officer now owns 18,592 shares in the company, valued at approximately $1,980,233.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Discover Financial Services 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.