Envestnet Portfolio Solutions Inc. Sells 1,412 Shares of Discover Financial Services (NYSE:DFS)

Envestnet Portfolio Solutions Inc. cut its holdings in Discover Financial Services (NYSE:DFS) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,473 shares of the financial services provider’s stock after selling 1,412 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Discover Financial Services were worth $12,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DFS. Raymond James Financial Inc. bought a new position in shares of Discover Financial Services during the fourth quarter worth $38,489,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Discover Financial Services by 10.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock worth $16,202,000 after purchasing an additional 10,946 shares in the last quarter. Brookstone Capital Management bought a new position in shares of Discover Financial Services during the fourth quarter worth $282,000. Meyer Handelman Co. bought a new position in shares of Discover Financial Services during the fourth quarter worth $239,000. Finally, Mechanics Bank Trust Department bought a new position in shares of Discover Financial Services during the fourth quarter worth $234,000. 86.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DFS has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Royal Bank of Canada raised their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Finally, Truist Financial raised their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and an average target price of $191.91.

Discover Financial Services Stock Up 3.4 %

Shares of DFS stock opened at $164.67 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76. The firm’s fifty day moving average price is $187.69 and its two-hundred day moving average price is $168.29. The firm has a market capitalization of $41.43 billion, a P/E ratio of 10.32, a PEG ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, equities analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.70%. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Discover Financial Services Company 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.