Insight Folios Inc Has $548,000 Position in Discover Financial Services (NYSE:DFS)

Insight Folios Inc trimmed its position in Discover Financial Services (NYSE:DFS) by 13.3% during the first quarter, HoldingsChannel.com reports. The fund owned 4,177 shares of the financial services provider’s stock after selling 643 shares during the period. Insight Folios Inc’s holdings in Discover Financial Services were worth $548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DFS. Norges Bank acquired a new stake in Discover Financial Services in the fourth quarter worth $322,199,000. Truist Financial Corp increased its position in shares of Discover Financial Services by 239.6% in the 4th quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock valued at $227,912,000 after buying an additional 1,430,637 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Discover Financial Services during the 4th quarter worth $121,113,000. Envestnet Asset Management Inc. lifted its holdings in Discover Financial Services by 60.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock worth $238,605,000 after acquiring an additional 803,738 shares in the last quarter. Finally, Canoe Financial LP acquired a new position in Discover Financial Services in the fourth quarter valued at about $72,265,000. Institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DFS shares. Barclays raised their price target on Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Friday, April 19th. HSBC lifted their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. StockNews.com began coverage on shares of Discover Financial Services in a research report on Saturday, June 29th. They set a “hold” rating for the company. Jefferies Financial Group boosted their price objective on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. increased their target price on Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and an average target price of $126.29.

Discover Financial Services Stock Performance

DFS stock traded down $1.48 during trading hours on Thursday, reaching $132.06. The stock had a trading volume of 897,558 shares, compared to its average volume of 1,304,271. The stock has a 50-day simple moving average of $125.08 and a 200 day simple moving average of $119.32. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $133.78. The stock has a market capitalization of $33.12 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter last year, the company posted $3.58 EPS. Analysts predict that Discover Financial Services will post 11.47 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is presently 31.93%.

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; 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.