Kentucky Retirement Systems Sells 1,393 Shares of Discover Financial Services (NYSE:DFS)

Kentucky Retirement Systems trimmed its position in Discover Financial Services (NYSE:DFS) by 7.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 17,491 shares of the financial services provider’s stock after selling 1,393 shares during the period. Kentucky Retirement Systems’ holdings in Discover Financial Services were worth $2,454,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. raised its position in Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 157 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Discover Financial Services in the 2nd quarter valued at approximately $26,000. Y.D. More Investments Ltd grew its holdings in Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Discover Financial Services by 72.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Discover Financial Services by 348.2% in the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of DFS opened at $176.07 on Monday. The stock has a 50-day moving average of $147.90 and a 200-day moving average of $136.07. Discover Financial Services has a one year low of $84.03 and a one year high of $188.26. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. The company has a market cap of $44.21 billion, a PE ratio of 14.21, a P/E/G ratio of 1.14 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the company posted $2.59 earnings per share. On average, equities research analysts predict that Discover Financial Services will post 13.23 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is 22.60%.

Analyst Ratings Changes

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

Discover Financial Services Company 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; 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.