44 Wealth Management LLC Sells 110 Shares of Discover Financial Services (NYSE:DFS)

44 Wealth Management LLC lowered its stake in shares of Discover Financial Services (NYSE:DFS) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,646 shares of the financial services provider’s stock after selling 110 shares during the period. 44 Wealth Management LLC’s holdings in Discover Financial Services were worth $285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $351,766,000. FMR LLC increased its holdings in shares of Discover Financial Services by 8.0% during the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after acquiring an additional 558,227 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Discover Financial Services by 1,272.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after acquiring an additional 245,829 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Discover Financial Services during the 4th quarter worth approximately $39,067,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Discover Financial Services during the 3rd quarter worth approximately $21,169,000. Institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DFS shares. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $150.00 to $239.00 in a report on Monday, January 13th. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Wells Fargo & Company boosted their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. Truist Financial boosted their target price on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target of $186.46.

Discover Financial Services Stock Performance

DFS opened at $194.21 on Friday. The firm has a market cap of $48.81 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. Discover Financial Services has a 52-week low of $118.74 and a 52-week high of $205.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The business’s fifty day moving average is $186.87 and its 200-day moving average is $163.19.

Discover Financial Services (NYSE:DFS) last released its 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 return on equity of 26.18% and a net margin of 17.29%. Sell-side analysts expect that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) 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.