Tocqueville Asset Management L.P. Has $491,000 Stake in Discover Financial Services (NYSE:DFS)

Tocqueville Asset Management L.P. decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 12.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,833 shares of the financial services provider’s stock after selling 394 shares during the period. Tocqueville Asset Management L.P.’s holdings in Discover Financial Services were worth $491,000 as of its most recent filing with the SEC.

A number of 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 position in shares of Discover Financial Services during the 4th quarter valued at about $351,766,000. FMR LLC grew its holdings in Discover Financial Services by 8.0% in the 3rd 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 last quarter. Strategic Financial Concepts LLC acquired a new stake in Discover Financial Services in the 4th quarter valued at approximately $39,067,000. Raymond James Financial Inc. acquired a new stake in Discover Financial Services in the 4th quarter valued at approximately $38,489,000. Finally, Proficio Capital Partners LLC acquired a new stake in Discover Financial Services in the 4th quarter valued at approximately $36,219,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Trading Up 2.0 %

Shares of DFS opened at $162.05 on Thursday. The stock has a fifty day moving average price of $186.51 and a two-hundred day moving average price of $168.49. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76. The company has a market cap of $40.77 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.73%. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DFS shares. Royal Bank of Canada raised their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Truist Financial raised their target price on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $191.91.

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.