Point72 Asia Singapore Pte. Ltd. Raises Position in Discover Financial Services (NYSE:DFS)

Point72 Asia Singapore Pte. Ltd. lifted its stake in Discover Financial Services (NYSE:DFS - Free Report) by 2,186.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,894 shares of the financial services provider's stock after purchasing an additional 4,680 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Discover Financial Services were worth $848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brookstone Capital Management purchased a new stake in Discover Financial Services in the fourth quarter worth about $282,000. Capital Investment Advisors LLC increased its holdings in Discover Financial Services by 4.6% in the 4th quarter. Capital Investment Advisors LLC now owns 1,687 shares of the financial services provider's stock worth $292,000 after acquiring an additional 74 shares in the last quarter. Wedmont Private Capital increased its holdings in Discover Financial Services by 4.8% in the 4th quarter. Wedmont Private Capital now owns 2,802 shares of the financial services provider's stock worth $475,000 after acquiring an additional 129 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in Discover Financial Services by 31.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 2,736 shares of the financial services provider's stock worth $474,000 after acquiring an additional 662 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in Discover Financial Services by 18.0% during the fourth quarter. AdvisorNet Financial Inc now owns 2,522 shares of the financial services provider's stock valued at $437,000 after purchasing an additional 385 shares in the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Performance

NYSE DFS opened at $200.18 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. Discover Financial Services has a 1-year low of $119.95 and a 1-year high of $207.42. The business has a 50 day simple moving average of $171.48 and a two-hundred day simple moving average of $177.96. The stock has a market capitalization of $50.38 billion, a PE ratio of 12.54, a P/E/G ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its 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 firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same period last year, the firm posted $1.10 earnings per share. On average, research analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DFS has been the topic of several recent analyst reports. StockNews.com downgraded shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Jefferies Financial Group restated a "hold" rating and issued a $180.00 price objective on shares of Discover Financial Services in a research report on Wednesday, May 7th. Argus raised Discover Financial Services to a "strong-buy" rating in a research note on Friday, April 25th. Wells Fargo & Company increased their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research report on Friday, January 24th. Finally, Truist Financial boosted their price target on Discover Financial Services from $219.00 to $229.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $191.64.

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.

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