Discover Financial Services (NYSE:DFS) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its position in Discover Financial Services (NYSE:DFS) by 33.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,262 shares of the financial services provider’s stock after selling 18,904 shares during the quarter. Park Avenue Securities LLC’s holdings in Discover Financial Services were worth $6,361,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DFS. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services in the 4th quarter valued at about $33,000. Flagship Wealth Advisors LLC acquired a new position in Discover Financial Services in the 4th quarter valued at about $34,000. Mattson Financial Services LLC acquired a new position in Discover Financial Services in the 4th quarter valued at about $34,000. Bfsg LLC acquired a new position in shares of Discover Financial Services during the fourth quarter worth about $35,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Discover Financial Services during the fourth quarter worth about $41,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

DFS stock opened at $197.76 on Monday. 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 has a fifty-two week low of $120.97 and a fifty-two week high of $207.42. The business has a 50 day moving average price of $182.49 and a 200 day moving average price of $181.51. The stock has a market cap of $49.77 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.92. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. Equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Securities lowered their price objective on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price objective on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Truist Financial boosted their price objective on Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Argus raised Discover Financial Services to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Discover Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $191.64.

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.