Point72 Asset Management L.P. Sells 144,978 Shares of Discover Financial Services (NYSE:DFS)

Point72 Asset Management L.P. lowered its stake in Discover Financial Services (NYSE:DFS - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,132 shares of the financial services provider's stock after selling 144,978 shares during the period. Point72 Asset Management L.P. owned 0.06% of Discover Financial Services worth $26,873,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DFS. Vanguard Group Inc. grew its position in Discover Financial Services by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider's stock valued at $5,377,961,000 after buying an additional 290,937 shares during the period. FMR LLC increased its position in shares of Discover Financial Services by 0.8% during the fourth quarter. FMR LLC now owns 7,553,016 shares of the financial services provider's stock worth $1,308,409,000 after purchasing an additional 59,154 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Discover Financial Services by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider's stock worth $1,082,826,000 after purchasing an additional 165,589 shares in the last quarter. Norges Bank purchased a new stake in shares of Discover Financial Services during the fourth quarter worth approximately $724,720,000. Finally, Invesco Ltd. lifted its stake in Discover Financial Services by 38.5% in the 4th quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider's stock worth $515,268,000 after purchasing an additional 826,287 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DFS has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a research report on Friday, January 24th. Truist Financial raised their price target on Discover Financial Services from $219.00 to $229.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Barclays boosted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Jefferies Financial Group restated a "hold" rating and set a $180.00 price target on shares of Discover Financial Services in a research note on Wednesday, May 7th. Finally, Argus raised Discover Financial Services to a "strong-buy" rating in a research note 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $191.64.

Discover Financial Services Price Performance

Discover Financial Services stock traded down $2.73 on Tuesday, reaching $197.76. The company's stock had a trading volume of 31,289,322 shares, compared to its average volume of 1,789,095. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The company has a market cap of $49.77 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. The business's fifty day moving average price is $173.02 and its 200 day moving average price is $179.00. Discover Financial Services has a twelve month low of $119.95 and a twelve month high of $207.42.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $3.33 by $0.92. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.25 billion. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Equities analysts expect that Discover Financial Services will post 13.88 earnings per share 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.