Discover Financial Services (NYSE:DFS) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. lessened its holdings in shares of Discover Financial Services (NYSE:DFS) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,862 shares of the financial services provider’s stock after selling 468 shares during the quarter. Essex Financial Services Inc.’s holdings in Discover Financial Services were worth $496,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. raised its holdings in shares of Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after buying an additional 157 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Discover Financial Services in the third quarter worth approximately $30,000. Grove Bank & Trust lifted its stake in Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in Discover Financial Services in the fourth quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC grew its position in Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 68 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Trading Down 3.3 %

Shares of DFS stock opened at $188.34 on Thursday. Discover Financial Services has a 1 year low of $107.10 and a 1 year high of $205.76. The firm’s fifty day simple moving average is $183.87 and its 200 day simple moving average is $159.97. The firm has a market capitalization of $47.33 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. 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 (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) 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%. As a group, sell-side analysts predict that Discover Financial Services will post 13.57 EPS for the current year.

Discover Financial Services Dividend Announcement

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 issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s payout ratio is presently 17.54%.

Wall Street Analyst Weigh In

DFS has been the subject of several analyst reports. UBS Group raised shares of 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. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Wells Fargo & Company upped their price target on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Royal Bank of Canada raised their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $186.46.

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.