Pacer Advisors Inc. Raises Stock Holdings in Discover Financial Services (NYSE:DFS)

Pacer Advisors Inc. grew its position in Discover Financial Services (NYSE:DFS) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,090 shares of the financial services provider’s stock after acquiring an additional 1,297 shares during the quarter. Pacer Advisors Inc.’s holdings in Discover Financial Services were worth $3,480,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. DiNuzzo Private Wealth Inc. boosted its stake in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 157 shares during the period. Grove Bank & Trust boosted its stake in shares of Discover Financial Services by 78.1% during the fourth 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 period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Discover Financial Services during the third quarter worth about $30,000. Decker Retirement Planning Inc. acquired a new position in Discover Financial Services in the 4th quarter valued at about $47,000. Finally, Pinnacle Bancorp Inc. raised its stake in Discover Financial Services by 37.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 79 shares during the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DFS. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Truist Financial boosted their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company increased their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. Finally, Barclays boosted their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Discover Financial Services has an average rating of “Hold” and an average target price of $182.64.

Discover Financial Services Stock Up 0.7 %

Discover Financial Services stock opened at $202.42 on Friday. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.10. Discover Financial Services has a fifty-two week low of $104.08 and a fifty-two week high of $205.76. The stock’s fifty day moving average is $180.47 and its two-hundred day moving average is $156.15.

Discover Financial Services (NYSE:DFS) last posted its 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 net margin of 17.29% and a return on equity of 27.52%. Analysts predict that Discover Financial Services will post 12.82 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s payout ratio is currently 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.