Concurrent Investment Advisors LLC Lowers Position in Discover Financial Services (NYSE:DFS)

Concurrent Investment Advisors LLC lessened its position in Discover Financial Services (NYSE:DFS) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,622 shares of the financial services provider’s stock after selling 56 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Discover Financial Services were worth $627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Discover Financial Services during the 4th quarter valued at approximately $351,766,000. FMR LLC increased its position in Discover Financial Services by 8.0% during 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 in the last quarter. Mizuho Securities USA LLC increased its position in Discover Financial Services by 1,272.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock valued at $37,199,000 after buying an additional 245,829 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Discover Financial Services during the 4th quarter valued at approximately $39,067,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Discover Financial Services in the 3rd quarter worth $21,169,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Ratings Changes

DFS has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Truist Financial lifted their price objective on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company lifted 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, January 24th. Finally, UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus target price of $191.91.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $194.21 on Monday. The stock’s 50-day simple moving average is $186.87 and its 200-day simple moving average is $163.47. Discover Financial Services has a 52 week low of $118.74 and a 52 week high of $205.76. The company has a market capitalization of $48.81 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.51 and a beta of 1.46. 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 (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping 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%. As a group, analysts expect that Discover Financial Services will post 13.88 earnings per share for the current fiscal 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 issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.44%. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Discover Financial Services 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.