Todd Asset Management LLC Takes Position in Discover Financial Services (NYSE:DFS)

Todd Asset Management LLC bought a new position in shares of Discover Financial Services (NYSE:DFS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 221,099 shares of the financial services provider's stock, valued at approximately $24,852,000. Todd Asset Management LLC owned 0.09% of Discover Financial Services as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in DFS. Bruce G. Allen Investments LLC acquired a new position in Discover Financial Services in the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Discover Financial Services in the fourth quarter valued at approximately $35,000. First Command Advisory Services Inc. acquired a new position in Discover Financial Services in the third quarter valued at approximately $39,000. Larson Financial Group LLC boosted its holdings in shares of Discover Financial Services by 105.8% in the third quarter. Larson Financial Group LLC now owns 465 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 239 shares during the period. Finally, Macroview Investment Management LLC acquired a new stake in shares of Discover Financial Services in the third quarter valued at approximately $41,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DFS. Wells Fargo & Company increased their price objective on Discover Financial Services from $105.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Discover Financial Services from $140.00 to $111.00 and set a "hold" rating for the company in a report on Friday, January 19th. Citigroup increased their price objective on Discover Financial Services from $127.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Seaport Res Ptn downgraded Discover Financial Services from a "buy" rating to a "neutral" rating in a report on Friday, March 15th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $140.00 price target (up from $117.00) on shares of Discover Financial Services in a report on Wednesday, February 21st. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $126.29.

Discover Financial Services Price Performance

NYSE:DFS traded up $0.53 during trading hours on Friday, hitting $125.04. The company's stock had a trading volume of 811,004 shares, compared to its average volume of 1,326,064. The business's 50-day moving average is $124.41 and its two-hundred day moving average is $108.71. The company has a market capitalization of $31.34 billion, a PE ratio of 14.26, a PEG ratio of 0.74 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.13 and a current ratio of 1.12. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $131.65.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The firm had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $4.07 billion. During the same quarter in the prior year, the business earned $3.58 EPS. As a group, research analysts anticipate that Discover Financial Services will post 11.86 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services's dividend payout ratio is currently 31.93%.

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; 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.