Los Angeles Capital Management LLC Sells 4,381 Shares of Discover Financial Services (NYSE:DFS)

Los Angeles Capital Management LLC reduced its stake in shares of Discover Financial Services (NYSE:DFS) by 1.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 329,396 shares of the financial services provider’s stock after selling 4,381 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Discover Financial Services were worth $57,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $351,766,000. FMR LLC grew its position in Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after buying an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC grew its position in Discover Financial Services by 1,272.0% during the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after buying an additional 245,829 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Discover Financial Services during the fourth quarter worth about $39,067,000. Finally, International Assets Investment Management LLC acquired a new stake in Discover Financial Services during the third quarter worth about $21,169,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

NYSE:DFS opened at $193.54 on Tuesday. Discover Financial Services has a 1 year low of $118.74 and a 1 year high of $205.76. The firm has a 50 day moving average of $187.21 and a 200-day moving average of $163.95. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $48.64 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last posted 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%. As a group, sell-side analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Analysts Set New Price Targets

A number of research firms recently weighed in on DFS. Evercore ISI lifted their target price on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. 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 report on Monday, January 27th. Barclays lifted their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada lifted their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $191.91.

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.