Louisiana State Employees Retirement System Acquires New Position in Discover Financial Services (NYSE:DFS)

Louisiana State Employees Retirement System bought a new stake in shares of Discover Financial Services (NYSE:DFS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,100 shares of the financial services provider's stock, valued at approximately $1,697,000.

Other large investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in Discover Financial Services during the fourth quarter worth about $28,000. Resurgent Financial Advisors LLC purchased a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $31,000. Pinnacle Bancorp Inc. raised its holdings in shares of Discover Financial Services by 282.0% during the third quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 282 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in Discover Financial Services during the fourth quarter valued at approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Discover Financial Services during the fourth quarter valued at approximately $35,000. Institutional investors own 86.94% of the company's stock.

Discover Financial Services Trading Up 0.9 %

NYSE DFS traded up $1.08 on Friday, reaching $125.35. The stock had a trading volume of 1,548,721 shares, compared to its average volume of 1,126,981. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 0.88 and a beta of 1.45. The company has a quick ratio of 1.13, a current ratio of 1.05 and a debt-to-equity ratio of 1.49. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The stock has a fifty day moving average price of $122.02 and a two-hundred day moving average price of $106.03.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $2.98 by ($1.88). The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a return on equity of 16.74% and a net margin of 10.56%. During the same quarter last year, the firm earned $3.58 EPS. As a group, sell-side analysts forecast that Discover Financial Services will post 11.23 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a yield of 2.23%. Discover Financial Services's dividend payout ratio is presently 31.93%.

Insider Buying and Selling at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of the company's stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the completion of the sale, the chief financial officer now directly owns 18,592 shares of the company's stock, valued at $1,980,233.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DFS has been the subject of a number of research reports. Citigroup upped their target price on shares of Discover Financial Services from $127.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Morgan Stanley upgraded shares of Discover Financial Services from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $105.00 to $133.00 in a research report on Thursday, February 8th. Evercore ISI increased their target price on shares of Discover Financial Services from $117.00 to $140.00 and gave the company an "in-line" rating in a research note on Thursday, February 22nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $140.00 target price (up previously from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. Finally, HSBC increased their target price on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a "hold" rating in a research note on Thursday, March 21st. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Discover Financial Services presently has a consensus rating of "Hold" and a consensus price target of $125.94.

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; private student loans, 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.