Strategic Financial Concepts LLC Takes $39.07 Million Position in Discover Financial Services (NYSE:DFS)

Strategic Financial Concepts LLC acquired a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 225,520 shares of the financial services provider’s stock, valued at approximately $39,067,000.

A number of other institutional investors have also recently bought and sold shares of DFS. Mirae Asset Global Investments Co. Ltd. raised its holdings in Discover Financial Services by 31.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,466 shares of the financial services provider’s stock worth $4,781,000 after purchasing an additional 6,599 shares during the period. Y.D. More Investments Ltd raised its stake in Discover Financial Services by 76.1% during the 4th quarter. Y.D. More Investments Ltd now owns 405 shares of the financial services provider’s stock worth $70,000 after buying an additional 175 shares during the period. Stratos Wealth Partners LTD. raised its stake in Discover Financial Services by 0.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after buying an additional 57 shares during the period. Yousif Capital Management LLC lifted its holdings in Discover Financial Services by 3.3% during the fourth quarter. Yousif Capital Management LLC now owns 37,315 shares of the financial services provider’s stock worth $6,464,000 after acquiring an additional 1,187 shares in the last quarter. Finally, Silverlake Wealth Management LLC acquired a new position in Discover Financial Services in the fourth quarter valued at about $214,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Price Performance

NYSE:DFS opened at $199.73 on Friday. The stock has a market capitalization of $50.19 billion, a PE ratio of 12.51, a P/E/G ratio of 0.64 and a beta of 1.46. Discover Financial Services has a 1-year low of $106.65 and a 1-year high of $205.76. The firm has a fifty day simple moving average of $182.89 and a 200 day simple moving average of $158.54. 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 (NYSE:DFS) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating 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%. On average, research analysts expect that Discover Financial Services will post 13.39 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DFS shares. Wells Fargo & Company lifted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. 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 note on Monday, January 27th. Royal Bank of Canada increased their price objective 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. Finally, JPMorgan Chase & Co. lifted their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.