LSV Asset Management Has $212.85 Million Stock Position in Discover Financial Services (NYSE:DFS)

LSV Asset Management decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 3.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,627,149 shares of the financial services provider’s stock after selling 63,800 shares during the period. LSV Asset Management’s holdings in Discover Financial Services were worth $212,847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Discover Financial Services during the 4th quarter valued at about $322,199,000. Massachusetts Financial Services Co. MA acquired a new position in Discover Financial Services during the 4th quarter valued at about $121,113,000. Envestnet Asset Management Inc. lifted its position in Discover Financial Services by 60.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after purchasing an additional 803,738 shares during the period. Elser Financial Planning Inc acquired a new position in Discover Financial Services during the 2nd quarter valued at about $91,044,000. Finally, Magnetar Financial LLC acquired a new position in Discover Financial Services during the 1st quarter valued at about $71,693,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Down 2.8 %

NYSE DFS traded down $3.70 during trading hours on Friday, reaching $128.68. 1,008,260 shares of the company’s stock were exchanged, compared to its average volume of 1,699,962. The company’s 50-day moving average is $134.05 and its two-hundred day moving average is $127.69. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. The company has a market capitalization of $32.27 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 0.96 and a beta of 1.42.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the firm posted $3.54 EPS. The business’s revenue was up 17.0% on a year-over-year basis. On average, analysts forecast that Discover Financial Services will post 12.75 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Jefferies Financial Group upped their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. BMO Capital Markets upped their target price on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods upped their price target on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Barclays upped their price target on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. upped their price target on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and an average price target of $132.94.

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; 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.