Discover Financial Services (NYSE:DFS) Position Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Discover Financial Services (NYSE:DFS) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,378 shares of the financial services provider’s stock after purchasing an additional 30,624 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Discover Financial Services worth $69,610,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DFS. Kingsview Wealth Management LLC increased its holdings in Discover Financial Services by 7.7% in the third quarter. Kingsview Wealth Management LLC now owns 1,664 shares of the financial services provider’s stock worth $233,000 after buying an additional 119 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Discover Financial Services by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 386 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 135 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Discover Financial Services during the 3rd quarter valued at $587,000. Private Trust Co. NA lifted its stake in shares of Discover Financial Services by 73.8% in the 3rd quarter. Private Trust Co. NA now owns 1,373 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 583 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Discover Financial Services by 5.7% in the third quarter. D.A. Davidson & CO. now owns 10,029 shares of the financial services provider’s stock worth $1,407,000 after purchasing an additional 539 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $158.23 on Friday. The firm has a market capitalization of $39.81 billion, a PE ratio of 9.91, a PEG ratio of 1.51 and a beta of 1.45. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 1-year low of $119.31 and a 1-year high of $205.76. The business’s 50 day moving average is $184.39 and its 200-day moving average is $169.76.

Discover Financial Services (NYSE:DFS) last released 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 predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Wall Street Analyst Weigh In

Several research firms have weighed in on DFS. Barclays raised their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. Finally, Truist Financial decreased their price target on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a report on Friday, March 21st. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $192.40.

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.