Empyrean Capital Partners LP Invests $100.99 Million in Discover Financial Services (NYSE:DFS)

Empyrean Capital Partners LP acquired a new position in shares of Discover Financial Services (NYSE:DFS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 583,000 shares of the financial services provider's stock, valued at approximately $100,993,000. Discover Financial Services accounts for 4.6% of Empyrean Capital Partners LP's holdings, making the stock its 6th largest holding. Empyrean Capital Partners LP owned approximately 0.23% of Discover Financial Services at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc increased its position in shares of Discover Financial Services by 40.0% in the fourth quarter. Ensign Peak Advisors Inc now owns 573,340 shares of the financial services provider's stock worth $99,320,000 after purchasing an additional 163,783 shares during the period. Ethic Inc. raised its holdings in Discover Financial Services by 41.7% in the 4th quarter. Ethic Inc. now owns 22,826 shares of the financial services provider's stock valued at $3,954,000 after buying an additional 6,723 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Discover Financial Services by 57.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 11,306 shares of the financial services provider's stock valued at $1,959,000 after buying an additional 4,140 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Discover Financial Services in the fourth quarter worth approximately $858,000. Finally, EP Wealth Advisors LLC lifted its stake in shares of Discover Financial Services by 2.1% in the fourth quarter. EP Wealth Advisors LLC now owns 7,445 shares of the financial services provider's stock worth $1,290,000 after acquiring an additional 154 shares during the period. Institutional investors own 86.94% of the company's stock.

Discover Financial Services Trading Up 6.6%

Discover Financial Services stock traded up $12.58 during trading hours on Monday, reaching $202.65. The company had a trading volume of 2,948,056 shares, compared to its average volume of 1,651,484. The firm has a market cap of $51.00 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.51 and a beta of 1.16. Discover Financial Services has a 12-month low of $119.95 and a 12-month high of $205.76. The company has a 50-day moving average price of $168.89 and a 200 day moving average price of $176.92. 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 (NYSE:DFS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, topping analysts' consensus estimates of $3.33 by $0.92. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same period last year, the company earned $1.10 EPS. Equities analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DFS shares. Barclays boosted their price target 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. Jefferies Financial Group restated a "hold" rating and issued a $180.00 price objective on shares of Discover Financial Services in a research note on Wednesday, May 7th. Wells Fargo & Company increased their price target on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research note on Friday, January 24th. Royal Bank of Canada increased their price target on Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their target price on Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $191.64.

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.