Retirement Guys Formula LLC Purchases New Holdings in Discover Financial Services (NYSE:DFS)

Retirement Guys Formula LLC purchased a new stake in Discover Financial Services (NYSE:DFS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,394 shares of the financial services provider’s stock, valued at approximately $241,000.

Several other institutional investors have also made changes to their positions in DFS. FMR LLC boosted its stake in shares of Discover Financial Services by 8.0% in the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after buying an additional 558,227 shares during the period. Mizuho Securities USA LLC lifted its stake in Discover Financial Services by 1,272.0% during the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after purchasing an additional 245,829 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Discover Financial Services during the fourth quarter worth $39,067,000. International Assets Investment Management LLC bought a new stake in Discover Financial Services during the third quarter worth $21,169,000. Finally, KBC Group NV lifted its stake in Discover Financial Services by 19.0% during the fourth quarter. KBC Group NV now owns 924,033 shares of the financial services provider’s stock worth $160,070,000 after purchasing an additional 147,558 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Stock Performance

NYSE DFS opened at $194.95 on Wednesday. The company has a market capitalization of $48.99 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.63 and a beta of 1.46. Discover Financial Services has a twelve month low of $107.10 and a twelve month high of $205.76. The stock has a fifty day simple moving average of $183.54 and a 200 day simple moving average of $159.60. 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 posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Sell-side analysts expect that Discover Financial Services will post 13.57 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.44%. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays upped their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Finally, Truist Financial upped their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $186.46.

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.