UBS Asset Management Americas Inc. cut its stake in shares of Discover Financial Services (NYSE:DFS) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,396,120 shares of the financial services provider’s stock after selling 14,281 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.46% of Discover Financial Services worth $126,391,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DFS. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Discover Financial Services by 161.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,807 shares of the financial services provider’s stock valued at $9,488,000 after acquiring an additional 64,707 shares in the last quarter. Clear Street Markets LLC purchased a new stake in Discover Financial Services during the 4th quarter worth about $208,000. Fort Pitt Capital Group LLC acquired a new stake in Discover Financial Services in the 4th quarter valued at about $54,000. Principal Financial Group Inc. boosted its stake in shares of Discover Financial Services by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 3,286,042 shares of the financial services provider’s stock valued at $297,486,000 after buying an additional 106,404 shares during the period. Finally, Kozak & Associates Inc. purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $486,000. Institutional investors and hedge funds own 84.67% of the company’s stock.
Shares of Discover Financial Services stock opened at $98.80 on Thursday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $30.27 billion, a P/E ratio of 30.40, a PEG ratio of 4.21 and a beta of 1.80. Discover Financial Services has a 1 year low of $31.09 and a 1 year high of $104.49. The company’s fifty day moving average is $96.52 and its two-hundred day moving average is $83.24.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 4th. Shareholders of record on Thursday, February 18th were paid a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, February 17th. This represents a $1.76 annualized dividend and a dividend yield of 1.78%. Discover Financial Services’s dividend payout ratio (DPR) is currently 19.38%.
A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $72.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 19th. BMO Capital Markets lifted their price objective on shares of Discover Financial Services from $100.00 to $101.00 and gave the stock an “outperform” rating in a research report on Friday, January 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Discover Financial Services from $104.00 to $110.00 and gave the company a “hold” rating in a report on Friday, January 22nd. Wells Fargo & Company lifted their price target on Discover Financial Services from $105.00 to $111.00 and gave the stock an “equal weight” rating in a report on Monday, March 22nd. Finally, Oppenheimer reiterated a “hold” rating on shares of Discover Financial Services in a report on Tuesday, December 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Discover Financial Services has a consensus rating of “Hold” and an average target price of $88.87.
In related news, EVP Carlos Minetti sold 19,260 shares of the stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $88.00, for a total transaction of $1,694,880.00. Following the completion of the transaction, the executive vice president now directly owns 147,293 shares of the company’s stock, valued at $12,961,784. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Hughes sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $93.91, for a total transaction of $939,100.00. Following the completion of the sale, the executive vice president now owns 56,620 shares of the company’s stock, valued at approximately $5,317,184.20. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
Discover Financial Services Company Profile
Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company 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; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.
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