BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Discover Financial Services (NYSE:DFS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,119 shares of the financial services provider's stock, valued at approximately $1,580,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Discover Financial Services by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider's stock worth $5,377,961,000 after purchasing an additional 290,937 shares in the last quarter. FMR LLC grew its holdings in Discover Financial Services by 0.8% during the fourth quarter. FMR LLC now owns 7,553,016 shares of the financial services provider's stock worth $1,308,409,000 after acquiring an additional 59,154 shares during the period. Geode Capital Management LLC grew its holdings in Discover Financial Services by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider's stock worth $1,082,826,000 after acquiring an additional 165,589 shares during the period. Norges Bank purchased a new position in Discover Financial Services in the fourth quarter worth $724,720,000. Finally, Invesco Ltd. lifted its holdings in Discover Financial Services by 38.5% in the fourth quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider's stock valued at $515,268,000 after acquiring an additional 826,287 shares during the period. Institutional investors and hedge funds own 86.94% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on DFS. TD Securities cut their price target on shares of Discover Financial Services from $188.00 to $184.00 and set a "buy" rating for the company in a report on Thursday. StockNews.com cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada raised 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. Finally, Truist Financial lifted their price objective on Discover Financial Services from $219.00 to $229.00 and gave the stock a "buy" rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Discover Financial Services currently has an average rating of "Hold" and a consensus price target of $188.91.
Check Out Our Latest Stock Analysis on Discover Financial Services
Discover Financial Services Price Performance
Discover Financial Services stock traded up $0.15 during mid-day trading on Monday, hitting $185.01. 628,360 shares of the company were exchanged, compared to its average volume of 1,606,942. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The company has a market capitalization of $46.55 billion, a P/E ratio of 11.58, a PEG ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 12-month low of $119.95 and a 12-month high of $205.76. The business's 50 day simple moving average is $169.86 and its two-hundred day simple moving average is $174.05.
Discover Financial Services (NYSE:DFS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.33 by $0.92. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.25 billion. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.
About Discover Financial Services
(
Free Report)
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.
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