Griffin Asset Management Inc. Lowers Position in Discover Financial Services (NYSE:DFS)

Griffin Asset Management Inc. cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,449 shares of the financial services provider’s stock after selling 787 shares during the period. Griffin Asset Management Inc.’s holdings in Discover Financial Services were worth $2,503,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. YHB Investment Advisors Inc. acquired a new position in Discover Financial Services in the 4th quarter valued at about $225,000. Pacer Advisors Inc. increased its stake in Discover Financial Services by 6.9% in the fourth quarter. Pacer Advisors Inc. now owns 20,090 shares of the financial services provider’s stock valued at $3,480,000 after purchasing an additional 1,297 shares during the last quarter. KBC Group NV raised its stake in Discover Financial Services by 19.0% during the fourth quarter. KBC Group NV now owns 924,033 shares of the financial services provider’s stock worth $160,070,000 after purchasing an additional 147,558 shares during the period. Blue Trust Inc. grew its holdings in shares of Discover Financial Services by 31.7% during the 4th quarter. Blue Trust Inc. now owns 1,625 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 391 shares during the period. Finally, PFG Investments LLC raised its position in Discover Financial Services by 6.2% in the fourth quarter. PFG Investments LLC now owns 1,791 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 104 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 0.9 %

Shares of NYSE:DFS opened at $200.25 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 12-month low of $104.08 and a 12-month high of $204.93. The stock’s 50-day moving average price is $178.82 and its 200-day moving average price is $154.86. The stock has a market capitalization of $50.32 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last released its earnings results 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 net margin of 17.29% and a return on equity of 27.52%. On average, equities analysts anticipate that Discover Financial Services will post 12.82 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.40%. Discover Financial Services’s payout ratio is 17.54%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DFS. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial lifted their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday. Evercore ISI upped their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Royal Bank of Canada lifted their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $182.64.

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.