Forsta AP Fonden Purchases 700 Shares of Discover Financial Services (NYSE:DFS)

Forsta AP Fonden grew its position in shares of Discover Financial Services (NYSE:DFS) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,100 shares of the financial services provider’s stock after acquiring an additional 700 shares during the quarter. Forsta AP Fonden’s holdings in Discover Financial Services were worth $11,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. National Pension Service raised its stake in shares of Discover Financial Services by 14.8% in the third quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock worth $61,693,000 after purchasing an additional 56,814 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Discover Financial Services by 10.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock worth $16,202,000 after buying an additional 10,946 shares in the last quarter. Brookstone Capital Management purchased a new stake in Discover Financial Services in the 4th quarter valued at $282,000. Meyer Handelman Co. bought a new position in Discover Financial Services during the 4th quarter valued at $239,000. Finally, Janney Montgomery Scott LLC purchased a new position in Discover Financial Services during the 3rd quarter worth $2,415,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

NYSE DFS opened at $202.42 on Friday. The firm has a market cap of $50.87 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average is $180.47 and its 200-day moving average is $156.15. Discover Financial Services has a 12-month low of $104.08 and a 12-month high of $205.76.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 27.52% and a net margin of 17.29%. Sell-side analysts predict that Discover Financial Services will post 12.82 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid 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 yield of 1.38%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analysts Set New Price Targets

DFS has been the subject of several analyst reports. Evercore ISI increased their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Truist Financial upped their target price on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Barclays upped their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services 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.