Intech Investment Management LLC Purchases 6,503 Shares of Discover Financial Services (NYSE:DFS)

Intech Investment Management LLC lifted its position in Discover Financial Services (NYSE:DFS) by 46.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,419 shares of the financial services provider’s stock after acquiring an additional 6,503 shares during the period. Intech Investment Management LLC’s holdings in Discover Financial Services were worth $3,537,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Discover Financial Services in the 4th quarter worth approximately $33,000. Flagship Wealth Advisors LLC bought a new position in shares of Discover Financial Services in the 4th quarter worth approximately $34,000. Bfsg LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $35,000. Grove Bank & Trust grew its stake in shares of Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after buying an additional 89 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services in the 3rd quarter worth approximately $30,000. Institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DFS shares. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Royal Bank of Canada upped their price target on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. Barclays upped their price target on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Truist Financial upped their price target on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $191.91.

Discover Financial Services Price Performance

NYSE DFS opened at $162.05 on Thursday. The business’s fifty day moving average price is $186.51 and its 200-day moving average price is $168.49. The stock has a market capitalization of $40.77 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. 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 released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share 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%. On average, equities analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently declared 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 of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.73%. Discover Financial Services’s payout ratio is 17.54%.

About Discover Financial Services

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.