Pitcairn Co. Has $1.03 Million Stock Position in Discover Financial Services (NYSE:DFS)

Pitcairn Co. reduced its position in shares of Discover Financial Services (NYSE:DFS) by 9.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,881 shares of the financial services provider’s stock after selling 809 shares during the quarter. Pitcairn Co.’s holdings in Discover Financial Services were worth $1,033,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DFS. Dynamic Advisor Solutions LLC acquired a new position in Discover Financial Services during the 4th quarter worth approximately $236,000. Whittier Trust Co. raised its stake in Discover Financial Services by 10.3% during the 4th quarter. Whittier Trust Co. now owns 2,000 shares of the financial services provider’s stock worth $225,000 after buying an additional 187 shares during the period. Brookstone Capital Management acquired a new position in Discover Financial Services during the 4th quarter worth approximately $242,000. Advisor Resource Council acquired a new position in Discover Financial Services during the 4th quarter worth approximately $204,000. Finally, CX Institutional acquired a new position in Discover Financial Services during the 4th quarter worth approximately $224,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

NYSE DFS traded up $1.36 on Thursday, hitting $141.62. 1,323,664 shares of the stock traded hands, compared to its average volume of 1,832,072. The business’s fifty day moving average is $128.28 and its two-hundred day moving average is $121.94. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $147.61. The firm has a market capitalization of $35.52 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.93 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.07.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.53% and a net margin of 12.88%. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the company earned $3.54 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts anticipate that Discover Financial Services will post 12.23 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, August 22nd. Discover Financial Services’s payout ratio is currently 31.93%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. StockNews.com assumed coverage on Discover Financial Services in a research note on Tuesday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods increased their price objective on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. BTIG Research assumed coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Jefferies Financial Group increased their price objective on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $131.33.

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.