Insight Folios Inc Cuts Stock Holdings in Discover Financial Services (NYSE:DFS)

Insight Folios Inc cut its stake in Discover Financial Services (NYSE:DFS) by 13.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,177 shares of the financial services provider’s stock after selling 643 shares during the period. Insight Folios Inc’s holdings in Discover Financial Services were worth $548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DFS. Norges Bank purchased a new stake in shares of Discover Financial Services during the 4th quarter worth $322,199,000. Truist Financial Corp lifted its holdings in Discover Financial Services by 239.6% during the 4th quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock worth $227,912,000 after buying an additional 1,430,637 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Discover Financial Services during the 4th quarter worth about $121,113,000. Envestnet Asset Management Inc. increased its holdings in shares of Discover Financial Services by 60.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after acquiring an additional 803,738 shares during the last quarter. Finally, Canoe Financial LP acquired a new stake in shares of Discover Financial Services during the 4th quarter worth about $72,265,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

NYSE:DFS traded down $1.48 during midday trading on Thursday, reaching $132.06. The stock had a trading volume of 897,558 shares, compared to its average volume of 1,304,271. The stock has a market cap of $33.12 billion, a P/E ratio of 15.06, a P/E/G ratio of 0.81 and a beta of 1.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $133.78. The firm has a fifty day simple moving average of $125.08 and a two-hundred day simple moving average of $119.32.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same period in the previous year, the firm earned $3.58 EPS. On average, equities analysts expect that Discover Financial Services will post 11.47 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DFS. HSBC upped their price target on Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a report on Thursday, March 21st. BTIG Research started coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company boosted their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Seaport Res Ptn lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Finally, Barclays boosted their target price on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $126.29.

About Discover Financial Services

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.