Carlson Capital L.P. Invests $1.78 Million in Discover Financial Services (NYSE:DFS)

Carlson Capital L.P. purchased a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,300 shares of the financial services provider’s stock, valued at approximately $1,784,000. Discover Financial Services makes up approximately 1.1% of Carlson Capital L.P.’s investment portfolio, making the stock its 7th biggest position.

Several other hedge funds have also made changes to their positions in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Discover Financial Services during the fourth quarter worth about $351,766,000. FMR LLC lifted its position in shares of 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 purchasing an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of 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 in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth about $39,067,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Discover Financial Services during the third quarter worth about $21,169,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $190.36 on Thursday. The firm’s 50 day moving average is $187.93 and its two-hundred day moving average is $164.56. Discover Financial Services has a 52 week low of $118.74 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. The firm has a market capitalization of $47.90 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.51 and a beta of 1.46.

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 net margin of 17.29% and a return on equity of 26.18%. Research analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.47%. Discover Financial Services’s dividend payout ratio (DPR) is 17.54%.

Analysts Set New Price Targets

Several analysts recently weighed in on DFS shares. Wells Fargo & Company raised their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Evercore ISI raised their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Truist Financial raised their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $191.91.

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; 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.