Adage Capital Partners GP L.L.C. Increases Position in Discover Financial Services (NYSE:DFS)

Adage Capital Partners GP L.L.C. grew its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 494,284 shares of the financial services provider's stock after purchasing an additional 9,390 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.20% of Discover Financial Services worth $85,625,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DFS. Raymond James Financial Inc. purchased a new position in shares of Discover Financial Services during the fourth quarter worth approximately $38,489,000. Brookstone Capital Management purchased a new position in shares of Discover Financial Services in the fourth quarter worth $282,000. Meyer Handelman Co. bought a new stake in Discover Financial Services during the 4th quarter valued at $239,000. Mechanics Bank Trust Department bought a new position in shares of Discover Financial Services during the fourth quarter valued at about $234,000. Finally, JBGlobal.com LLC bought a new position in shares of Discover Financial Services during the fourth quarter valued at about $346,000. 86.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on DFS. Wells Fargo & Company raised their target price 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 research report on Tuesday, April 15th. Truist Financial raised their price target on shares of Discover Financial Services from $219.00 to $229.00 and gave the company a "buy" rating in a research report on Friday. UBS Group raised shares of Discover Financial Services from a "neutral" rating to a "buy" rating and raised their price target for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Finally, TD Securities dropped their price objective on Discover Financial Services from $188.00 to $184.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $188.91.

Discover Financial Services Trading Down 0.2 %

Shares of DFS stock traded down $0.45 on Tuesday, reaching $185.05. 314,316 shares of the company's stock were exchanged, compared to its average volume of 1,607,938. Discover Financial Services has a 52 week low of $119.95 and a 52 week high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $46.56 billion, a PE ratio of 11.58, a P/E/G ratio of 1.51 and a beta of 1.20. The company's fifty day simple moving average is $169.50 and its 200 day simple moving average is $174.33.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.33 by $0.92. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.25 billion. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. During the same period last year, the company earned $1.10 EPS. As a group, analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

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.