Sona Asset Management US LLC Makes New $43.36 Million Investment in Discover Financial Services (NYSE:DFS)

Sona Asset Management US LLC purchased a new position in Discover Financial Services (NYSE:DFS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 250,286 shares of the financial services provider's stock, valued at approximately $43,357,000. Discover Financial Services makes up about 1.7% of Sona Asset Management US LLC's investment portfolio, making the stock its 17th largest holding. Sona Asset Management US LLC owned 0.10% of Discover Financial Services at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DFS. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services in the fourth quarter worth about $33,000. Flagship Wealth Advisors LLC bought a new position in Discover Financial Services in the fourth quarter worth about $34,000. Grove Bank & Trust lifted its holdings in Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock worth $35,000 after acquiring an additional 89 shares during the last quarter. Bfsg LLC bought a new position in Discover Financial Services in the fourth quarter worth about $35,000. Finally, Hantz Financial Services Inc. bought a new position in Discover Financial Services in the fourth quarter worth about $37,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of NYSE DFS traded down $2.73 during mid-day trading on Monday, reaching $197.76. 31,289,322 shares of the company traded hands, compared to its average volume of 1,784,714. Discover Financial Services has a fifty-two week low of $119.95 and a fifty-two week high of $207.42. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market cap of $49.77 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16. The stock has a fifty day simple moving average of $172.34 and a 200-day simple moving average of $178.68.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $4.25 EPS 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 business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter last year, the business earned $1.10 earnings per share. Equities research analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DFS. Wells Fargo & Company raised their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a report on Friday, January 24th. Jefferies Financial Group reissued a "hold" rating and issued a $180.00 target price on shares of Discover Financial Services in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their target price on shares of Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. TD Securities cut their target price on shares of Discover Financial Services from $188.00 to $184.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Barclays lifted their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $191.64.

Discover Financial Services 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; 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.