Discover Financial Services (NYSE:DFS) is Bruni J V & Co. Co.’s 6th Largest Position

Bruni J V & Co. Co. cut its stake in Discover Financial Services (NYSE:DFS) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 369,257 shares of the financial services provider’s stock after selling 8,728 shares during the quarter. Discover Financial Services comprises about 5.8% of Bruni J V & Co. Co.’s portfolio, making the stock its 6th biggest position. Bruni J V & Co. Co.’s holdings in Discover Financial Services were worth $51,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DFS. Verity & Verity LLC grew its stake in Discover Financial Services by 7.7% in the third quarter. Verity & Verity LLC now owns 4,380 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 312 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Discover Financial Services in the 3rd quarter worth approximately $7,838,000. Quest Partners LLC raised its stake in shares of Discover Financial Services by 56.8% during the 3rd quarter. Quest Partners LLC now owns 6,792 shares of the financial services provider’s stock worth $953,000 after acquiring an additional 2,459 shares in the last quarter. TrinityPoint Wealth LLC lifted its position in Discover Financial Services by 14.4% during the third quarter. TrinityPoint Wealth LLC now owns 3,440 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 432 shares during the last quarter. Finally, River Street Advisors LLC boosted its stake in Discover Financial Services by 1.4% in the third quarter. River Street Advisors LLC now owns 9,681 shares of the financial services provider’s stock valued at $1,358,000 after acquiring an additional 132 shares in the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $173.22 on Tuesday. The stock has a market capitalization of $43.49 billion, a P/E ratio of 13.98, a PEG ratio of 1.14 and a beta of 1.41. The business has a 50 day simple moving average of $148.69 and a two-hundred day simple moving average of $136.41. Discover Financial Services has a 12 month low of $85.19 and a 12 month high of $188.26. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the firm posted $2.59 EPS. As a group, analysts predict that Discover Financial Services will post 13.23 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.62%. Discover Financial Services’s dividend payout ratio is presently 22.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Evercore ISI upped their price target on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price target on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $138.81.

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.