The Manufacturers Life Insurance Company Buys 215 Shares of Discover Financial Services (NYSE:DFS)

The Manufacturers Life Insurance Company grew its stake in Discover Financial Services (NYSE:DFS) by 0.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 620,033 shares of the financial services provider’s stock after acquiring an additional 215 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Discover Financial Services were worth $86,984,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Eagle Bluffs Wealth Management LLC grew its position in Discover Financial Services by 0.5% during the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock worth $2,034,000 after acquiring an additional 67 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Discover Financial Services by 27.4% during the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 68 shares during the last quarter. Inlet Private Wealth LLC increased its stake in shares of Discover Financial Services by 2.4% in the third quarter. Inlet Private Wealth LLC now owns 3,185 shares of the financial services provider’s stock valued at $447,000 after buying an additional 75 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Discover Financial Services by 0.4% in the third quarter. First Trust Direct Indexing L.P. now owns 17,664 shares of the financial services provider’s stock valued at $2,478,000 after buying an additional 75 shares in the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in shares of Discover Financial Services by 24.4% in the second quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock valued at $51,000 after buying an additional 76 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Trading Down 0.1 %

DFS opened at $182.50 on Thursday. The firm’s fifty day moving average is $155.09 and its two-hundred day moving average is $138.97. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The firm has a market cap of $45.82 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.41. Discover Financial Services has a twelve month low of $85.37 and a twelve month high of $188.26.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.41. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same period last year, the business posted $2.59 earnings per share. Equities research analysts anticipate that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.53%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.60%.

Analyst Upgrades and Downgrades

DFS has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company upped their target price on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Evercore ISI upped their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus target price of $138.81.

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; 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.