Amundi Sells 308,769 Shares of Discover Financial Services (NYSE:DFS)

Amundi lessened its position in Discover Financial Services (NYSE:DFS) by 29.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 731,414 shares of the financial services provider’s stock after selling 308,769 shares during the period. Amundi owned 0.29% of Discover Financial Services worth $128,634,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Hemington Wealth Management lifted its position in shares of Discover Financial Services by 11.0% in the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 50 shares during the period. UMB Bank n.a. lifted its position in shares of Discover Financial Services by 0.6% in the 4th quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock worth $1,602,000 after purchasing an additional 56 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of Discover Financial Services by 0.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 57 shares during the period. Invst LLC lifted its position in shares of Discover Financial Services by 0.9% in the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 62 shares during the period. Finally, CTC Alternative Strategies Ltd. lifted its position in shares of Discover Financial Services by 3.2% in the 3rd quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 63 shares during the period. Institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada raised 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 research report on Friday, January 24th. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. Barclays lifted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Truist Financial lifted their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $191.91.

Discover Financial Services Stock Performance

Shares of NYSE DFS opened at $156.76 on Tuesday. The firm has a fifty day moving average price of $188.72 and a 200-day moving average price of $167.51. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The stock has a market cap of $39.44 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Equities analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.79%. Discover Financial Services’s dividend payout ratio is 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.