Harvest Fund Management Co. Ltd Acquires 2,029 Shares of Discover Financial Services (NYSE:DFS)

Harvest Fund Management Co. Ltd raised its position in Discover Financial Services (NYSE:DFS) by 186.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,116 shares of the financial services provider’s stock after purchasing an additional 2,029 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Discover Financial Services were worth $540,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Discover Financial Services in the 4th quarter worth approximately $351,766,000. FMR LLC lifted its position in shares of Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after purchasing an additional 558,227 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $39,067,000. Raymond James Financial Inc. acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $38,489,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $36,219,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of NYSE DFS opened at $164.41 on Friday. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The stock has a fifty day moving average of $186.28 and a 200-day moving average of $168.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The stock has a market cap of $41.37 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced 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. This represents a $2.80 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DFS shares. Wells Fargo & Company boosted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Truist Financial lifted their price target on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, January 27th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Finally, UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and an average price target of $191.91.

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.