Invesco LLC Sells 75 Shares of Discover Financial Services (NYSE:DFS)

Invesco LLC cut its holdings in Discover Financial Services (NYSE:DFS) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,456 shares of the financial services provider’s stock after selling 75 shares during the period. Invesco LLC’s holdings in Discover Financial Services were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DFS. National Pension Service grew its holdings in Discover Financial Services by 14.8% during the third quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after purchasing an additional 56,814 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Discover Financial Services by 10.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after buying an additional 10,946 shares in the last quarter. Brookstone Capital Management purchased a new stake in Discover Financial Services in the 4th quarter worth approximately $282,000. Meyer Handelman Co. bought a new stake in Discover Financial Services during the 4th quarter worth approximately $239,000. Finally, Janney Montgomery Scott LLC purchased a new position in Discover Financial Services during the third quarter valued at approximately $2,415,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 0.9 %

DFS traded up $1.80 on Wednesday, reaching $201.33. 122,831 shares of the company traded hands, compared to its average volume of 1,505,609. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09. The company has a market cap of $50.60 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46. The firm has a fifty day simple moving average of $179.90 and a two-hundred day simple moving average of $155.83. Discover Financial Services has a one year low of $104.08 and a one year high of $204.93.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 27.52% and a net margin of 17.29%. As a group, equities research analysts expect that Discover Financial Services will post 12.82 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Analyst Ratings Changes

Several brokerages have recently commented on DFS. JPMorgan Chase & Co. raised their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Wells Fargo & Company upped their price objective on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. Truist Financial lifted their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Finally, StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $182.64.

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.