Public Employees Retirement System of Ohio Sells 10,230 Shares of Discover Financial Services (NYSE:DFS)

Public Employees Retirement System of Ohio lowered its stake in Discover Financial Services (NYSE:DFS) by 8.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 115,635 shares of the financial services provider’s stock after selling 10,230 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Discover Financial Services were worth $15,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC raised its stake in Discover Financial Services by 335.4% during the 4th quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after acquiring an additional 49,145 shares during the period. Axxcess Wealth Management LLC raised its position in shares of Discover Financial Services by 135.1% during the 1st quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 4,478 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Discover Financial Services by 238.7% during the 4th quarter. D.A. Davidson & CO. now owns 14,783 shares of the financial services provider’s stock valued at $1,662,000 after buying an additional 10,418 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Discover Financial Services by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock worth $103,000,000 after buying an additional 16,532 shares during the period. Finally, Principal Securities Inc. purchased a new stake in Discover Financial Services in the 4th quarter worth $1,073,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Up 1.5 %

NYSE DFS traded up $2.12 during midday trading on Tuesday, hitting $144.68. 38,482 shares of the company traded hands, compared to its average volume of 1,806,547. The company has a market cap of $36.28 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44. The company’s 50-day simple moving average is $129.31 and its 200-day simple moving average is $122.65. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.07 and a quick ratio of 1.12.

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

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BMO Capital Markets increased their target price on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Jefferies Financial Group lifted their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. BTIG Research initiated coverage on shares of Discover Financial Services in a report on Friday, June 7th. They set a “neutral” rating for the company. Barclays lifted their target price on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. raised their price target on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $131.33.

Discover Financial Services 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; 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.