DLD Asset Management LP Trims Holdings in Discover Financial Services (NYSE:DFS)

DLD Asset Management LP decreased its position in shares of Discover Financial Services (NYSE:DFS) by 66.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,635 shares of the financial services provider’s stock after selling 16,765 shares during the period. DLD Asset Management LP’s holdings in Discover Financial Services were worth $1,496,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Discover Financial Services during the 4th quarter valued at $33,000. Flagship Wealth Advisors LLC bought a new stake in Discover Financial Services during the fourth quarter valued at about $34,000. Bfsg LLC purchased a new position in shares of Discover Financial Services in the fourth quarter valued at about $35,000. Grove Bank & Trust lifted its position in shares of Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services during the third quarter worth about $30,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 0.2 %

DFS opened at $170.32 on Wednesday. The stock has a 50-day moving average of $183.68 and a 200 day moving average of $170.89. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76. The firm has a market cap of $42.85 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data 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 return on equity of 26.18% and a net margin of 17.29%. As a group, research analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is 17.54%.

Analyst Ratings Changes

A number of research firms recently commented on DFS. Barclays boosted their price target on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Royal Bank of Canada raised their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $192.40.

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.