Discover Financial Services (NYSE:DFS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Discover Financial Services (NYSE:DFS) by 6.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,312,058 shares of the financial services provider's stock after selling 85,060 shares during the period. Principal Financial Group Inc. owned 0.52% of Discover Financial Services worth $147,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter worth $28,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Discover Financial Services in the fourth quarter valued at $31,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Discover Financial Services in the fourth quarter valued at $35,000. Anchor Investment Management LLC bought a new position in Discover Financial Services during the 4th quarter valued at $42,000. Finally, First Command Advisory Services Inc. bought a new position in Discover Financial Services during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 86.94% of the company's stock.

Discover Financial Services Stock Performance

Shares of DFS traded up $0.77 during mid-day trading on Monday, hitting $124.17. The stock had a trading volume of 1,473,071 shares, compared to its average volume of 2,074,428. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $131.65. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day moving average price of $124.62 and a 200-day moving average price of $110.18. The firm has a market cap of $31.12 billion, a P/E ratio of 14.15, a PEG ratio of 0.74 and a beta of 1.43.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the previous year, the business earned $3.58 earnings per share. On average, equities research analysts expect that Discover Financial Services will post 11.48 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a yield of 2.25%. Discover Financial Services's payout ratio is 31.93%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DFS. JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, April 3rd. Seaport Res Ptn downgraded shares of Discover Financial Services from a "buy" rating to a "neutral" rating in a research report on Friday, March 15th. Evercore ISI raised their price objective on shares of Discover Financial Services from $117.00 to $140.00 and gave the stock an "in-line" rating in a report on Thursday, February 22nd. Royal Bank of Canada reissued a "sector perform" rating and set a $140.00 price target (up from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. Finally, BMO Capital Markets lowered their price objective on Discover Financial Services from $116.00 to $104.00 and set a "market perform" rating for the company in a research report on Monday, January 22nd. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $126.29.

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.

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