Wedge Capital Management L L P NC Acquires 38,340 Shares of Discover Financial Services (NYSE:DFS)

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Wedge Capital Management L L P NC lifted its holdings in Discover Financial Services (NYSE:DFS) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,224 shares of the financial services provider’s stock after purchasing an additional 38,340 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Discover Financial Services were worth $31,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in DFS. Resources Management Corp CT ADV bought a new position in shares of Discover Financial Services during the 3rd quarter valued at $55,000. Prudential PLC lifted its holdings in Discover Financial Services by 1.4% in the second quarter. Prudential PLC now owns 309,030 shares of the financial services provider’s stock valued at $24,104,000 after acquiring an additional 4,356 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Discover Financial Services in the third quarter worth about $439,000. Barings LLC boosted its position in Discover Financial Services by 5.6% in the second quarter. Barings LLC now owns 28,478 shares of the financial services provider’s stock worth $2,210,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Discover Financial Services by 17.0% in the third quarter. Golden State Wealth Management LLC now owns 1,205 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 175 shares during the last quarter. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

DFS opened at $83.32 on Thursday. The company has a 50 day simple moving average of $84.63 and a two-hundred day simple moving average of $82.58. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market cap of $26.03 billion, a P/E ratio of 10.70, a PEG ratio of 1.18 and a beta of 1.61. Discover Financial Services has a 1-year low of $63.07 and a 1-year high of $92.98.

Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.07. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Discover Financial Services had a return on equity of 26.79% and a net margin of 20.97%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $2.05 earnings per share. Equities analysts anticipate that Discover Financial Services will post 9.06 earnings per share for the current year.

Several equities analysts have recently weighed in on DFS shares. JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Co reissued a “neutral” rating on shares of Discover Financial Services in a report on Monday, January 6th. Nomura restated a “neutral” rating and set a $89.00 target price (down from $96.00) on shares of Discover Financial Services in a research report on Thursday, December 5th. ValuEngine cut shares of Discover Financial Services from a “sell” rating to a “strong sell” rating in a report on Friday, January 3rd. Finally, Wedbush reiterated an “outperform” rating on shares of Discover Financial Services in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $86.63.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

Read More: Limitations of the P/E Growth ratio

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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