Boston Partners Trims Holdings in Discover Financial Services (NYSE:DFS)

Boston Partners decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,809,635 shares of the financial services provider’s stock after selling 141,271 shares during the quarter. Discover Financial Services comprises 1.0% of Boston Partners’ holdings, making the stock its 15th largest position. Boston Partners owned 1.91% of Discover Financial Services worth $837,565,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its position in Discover Financial Services by 46.7% in the fourth quarter. Intech Investment Management LLC now owns 20,419 shares of the financial services provider’s stock valued at $3,537,000 after purchasing an additional 6,503 shares during the period. Generali Asset Management SPA SGR purchased a new stake in Discover Financial Services in the fourth quarter valued at $5,074,000. Birnam Oak Advisors LP purchased a new stake in Discover Financial Services in the fourth quarter valued at $21,166,000. Flagship Wealth Advisors LLC purchased a new stake in Discover Financial Services in the fourth quarter valued at $34,000. Finally, Signaturefd LLC raised its position in Discover Financial Services by 2.1% in the fourth quarter. Signaturefd LLC now owns 7,461 shares of the financial services provider’s stock valued at $1,292,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 7.1 %

NYSE:DFS opened at $152.59 on Tuesday. The stock has a 50-day simple moving average of $187.16 and a 200-day simple moving average of $168.39. The stock has a market cap of $38.39 billion, a P/E ratio of 9.56, a P/E/G ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. As a group, analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s payout ratio is currently 17.54%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DFS shares. Truist Financial lifted their price objective on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, Barclays boosted their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $191.91.

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.