HighTower Advisors LLC Boosts Stake in Discover Financial Services (NYSE:DFS)

HighTower Advisors LLC lifted its position in shares of Discover Financial Services (NYSE:DFS) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,866 shares of the financial services provider’s stock after acquiring an additional 3,840 shares during the quarter. HighTower Advisors LLC’s holdings in Discover Financial Services were worth $10,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Discover Financial Services in the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new position in Discover Financial Services in the 4th quarter valued at about $33,000. Grove Bank & Trust lifted its stake in Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares in the last quarter. Bfsg LLC purchased a new position in Discover Financial Services in the 4th quarter valued at about $35,000. Finally, Hantz Financial Services Inc. purchased a new position in Discover Financial Services in the 4th quarter valued at about $37,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Up 3.4 %

Shares of NYSE DFS opened at $164.67 on Monday. The company has a 50 day simple moving average of $187.69 and a 200-day simple moving average of $168.29. The company has a market capitalization of $41.43 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data 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%. On average, equities research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.70%. Discover Financial Services’s payout ratio is currently 17.54%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of 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. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Barclays increased their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Truist Financial increased their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $191.91.

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.