E. Ohman J or Asset Management AB Raises Stake in Discover Financial Services (NYSE:DFS)

E. Ohman J or Asset Management AB lifted its position in shares of Discover Financial Services (NYSE:DFS) by 26.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,730 shares of the financial services provider’s stock after buying an additional 2,450 shares during the period. E. Ohman J or Asset Management AB’s holdings in Discover Financial Services were worth $2,032,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Discover Financial Services by 0.8% during the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after purchasing an additional 80,601 shares during the period. FMR LLC lifted its position in Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after buying an additional 558,227 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Discover Financial Services by 0.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock worth $257,391,000 after buying an additional 12,255 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Discover Financial Services by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock valued at $242,460,000 after buying an additional 7,751 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Discover Financial Services by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,980 shares of the financial services provider’s stock valued at $149,266,000 after acquiring an additional 4,594 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

DFS has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Truist Financial boosted their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company increased their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Evercore ISI boosted their price target on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $182.64.

Discover Financial Services Stock Down 0.1 %

Shares of NYSE:DFS opened at $198.42 on Wednesday. The company has a market capitalization of $49.87 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a 50 day moving average of $181.78 and a two-hundred day moving average of $157.52. Discover Financial Services has a 52-week low of $104.08 and a 52-week high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. As a group, analysts forecast that Discover Financial Services will post 13.39 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

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.