Discover Financial Services (NYSE:DFS) Shares Sold by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,407 shares of the financial services provider’s stock after selling 2,407 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Discover Financial Services were worth $417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Discover Financial Services during the fourth quarter worth approximately $351,766,000. FMR LLC raised its position in Discover Financial Services by 8.0% in the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after purchasing an additional 558,227 shares during the period. Mizuho Securities USA LLC increased its holdings in Discover Financial Services by 1,272.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock valued at $37,199,000 after purchasing an additional 245,829 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Discover Financial Services during the fourth quarter worth about $39,067,000. Finally, Raymond James Financial Inc. purchased a new position in Discover Financial Services in the fourth quarter valued at $38,489,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Up 1.4 %

DFS opened at $181.28 on Thursday. Discover Financial Services has a twelve month low of $118.74 and a twelve month high of $205.76. The firm has a market cap of $45.61 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.51 and a beta of 1.46. The firm’s 50-day simple moving average is $189.27 and its 200-day simple moving average is $166.62. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.54%. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DFS shares. JPMorgan Chase & Co. boosted their price objective 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. Royal Bank of Canada raised their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Barclays lifted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $191.91.

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.