Envestnet Portfolio Solutions Inc. Has $8.58 Million Holdings in Discover Financial Services (NYSE:DFS)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Discover Financial Services (NYSE:DFS) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,483 shares of the financial services provider’s stock after selling 323 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Discover Financial Services were worth $8,584,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Empirical Finance LLC raised its stake in Discover Financial Services by 3.1% during the 1st quarter. Empirical Finance LLC now owns 9,773 shares of the financial services provider’s stock valued at $1,281,000 after purchasing an additional 298 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Discover Financial Services by 97.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 906 shares of the financial services provider’s stock valued at $119,000 after buying an additional 446 shares during the period. WBI Investments LLC bought a new stake in Discover Financial Services in the 1st quarter valued at $240,000. Team Hewins LLC increased its holdings in Discover Financial Services by 5.5% in the 1st quarter. Team Hewins LLC now owns 1,887 shares of the financial services provider’s stock valued at $247,000 after buying an additional 98 shares during the period. Finally, Signaturefd LLC increased its holdings in Discover Financial Services by 2.4% in the 1st quarter. Signaturefd LLC now owns 6,744 shares of the financial services provider’s stock valued at $884,000 after buying an additional 155 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Trading Down 0.1 %

Shares of NYSE:DFS traded down $0.14 during mid-day trading on Friday, reaching $131.34. The stock had a trading volume of 756,382 shares, compared to its average volume of 1,833,422. The firm has a market cap of $32.94 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44. The firm has a 50 day simple moving average of $125.57 and a two-hundred day simple moving average of $120.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $133.78.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same quarter in the prior year, the business earned $3.58 earnings per share. On average, research analysts predict that Discover Financial Services will post 11.58 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.13%. Discover Financial Services’s dividend payout ratio is 31.93%.

Analyst Ratings Changes

Several equities research analysts have issued reports on DFS shares. Keefe, Bruyette & Woods boosted their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Monday. HSBC upped their target price on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. StockNews.com assumed coverage on shares of Discover Financial Services in a report on Sunday, July 7th. They issued a “hold” rating on the stock. Jefferies Financial Group upped their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Discover Financial Services from $120.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $129.78.

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; private student loans, 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.