Bronte Capital Management Pty Ltd. Has $52,000 Stock Holdings in Discover Financial Services (NYSE:DFS)

Bronte Capital Management Pty Ltd. decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,397 shares of the financial services provider’s stock after selling 24,813 shares during the quarter. Discover Financial Services accounts for approximately 0.0% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 17th biggest position. Bronte Capital Management Pty Ltd.’s holdings in Discover Financial Services were worth $52,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Janney Montgomery Scott LLC acquired a new position in shares of Discover Financial Services during the 3rd quarter worth about $2,415,000. Leavell Investment Management Inc. acquired a new position in Discover Financial Services in the 3rd quarter valued at approximately $203,000. Atria Investments Inc raised its holdings in Discover Financial Services by 57.8% in the 3rd quarter. Atria Investments Inc now owns 12,783 shares of the financial services provider’s stock valued at $1,793,000 after acquiring an additional 4,684 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in Discover Financial Services by 16.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 5,000 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 700 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Discover Financial Services by 27.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DFS. Royal Bank of Canada upped their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Truist Financial upped their price objective on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company upped their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods upped their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. 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. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $191.91.

Discover Financial Services Stock Up 0.6 %

Shares of Discover Financial Services stock opened at $157.89 on Wednesday. The company has a market cap of $39.73 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The company’s 50 day moving average is $188.41 and its 200 day moving average is $167.69. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS 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 26.18%. Research analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend 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.