Wellington Wealth Strategies LLC. Makes New $266,000 Investment in Discover Financial Services (NYSE:DFS)

Wellington Wealth Strategies LLC. bought a new position in Discover Financial Services (NYSE:DFS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,397 shares of the financial services provider's stock, valued at approximately $266,000.

Several other hedge funds have also recently modified their holdings of DFS. SBI Securities Co. Ltd. purchased a new stake in Discover Financial Services during the fourth quarter valued at $33,000. Flagship Wealth Advisors LLC purchased a new stake in Discover Financial Services during the fourth quarter valued at $34,000. Grove Bank & Trust raised its stake in Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Bfsg LLC purchased a new stake in Discover Financial Services during the fourth quarter valued at $35,000. Finally, Hantz Financial Services Inc. purchased a new stake in Discover Financial Services during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 86.94% of the company's stock.

Wall Street Analysts Forecast Growth

DFS has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Truist Financial upped 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 note on Friday, April 25th. TD Securities decreased their price target on shares of Discover Financial Services from $188.00 to $184.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group reissued a "hold" rating and issued a $180.00 target price on shares of Discover Financial Services in a research note on Wednesday, May 7th. Finally, Argus raised shares of Discover Financial Services to a "strong-buy" rating in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Discover Financial Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $191.64.

Discover Financial Services Stock Down 1.4%

Shares of NYSE:DFS traded down $2.73 during trading on Friday, reaching $197.76. The stock had a trading volume of 31,289,322 shares, compared to its average volume of 1,797,705. Discover Financial Services has a one year low of $119.95 and a one year high of $207.42. The company has a market capitalization of $49.77 billion, a P/E ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. 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 firm's 50-day simple moving average is $176.14 and its 200 day simple moving average is $179.90.

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

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.