iA Global Asset Management Inc. Sells 2,416 Shares of Discover Financial Services (NYSE:DFS)

iA Global Asset Management Inc. trimmed its position in shares of Discover Financial Services (NYSE:DFS) by 19.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,039 shares of the financial services provider’s stock after selling 2,416 shares during the quarter. iA Global Asset Management Inc.’s holdings in Discover Financial Services were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Discover Financial Services during the fourth quarter worth about $38,489,000. Nomura Asset Management Co. Ltd. grew its stake in 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 buying an additional 10,946 shares during the last quarter. Brookstone Capital Management bought a new stake in Discover Financial Services during the fourth quarter worth about $282,000. Meyer Handelman Co. bought a new stake in Discover Financial Services during the fourth quarter worth about $239,000. Finally, Mechanics Bank Trust Department bought a new stake in Discover Financial Services during the fourth quarter worth about $234,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Trading Up 0.3 %

Shares of NYSE DFS opened at $164.90 on Friday. The company’s 50 day simple moving average is $186.18 and its 200 day simple moving average is $168.64. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The firm has a market capitalization of $41.49 billion, a P/E ratio of 10.33, a P/E/G ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data 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 net margin of 17.29% and a return on equity of 26.18%. On average, analysts predict that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on DFS shares. Wells Fargo & Company upped their price objective on shares of 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 increased their price target on shares of 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. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Keefe, Bruyette & Woods increased their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Truist Financial decreased their price target on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Discover Financial Services currently has an average rating of “Hold” and a consensus target price of $192.40.

About Discover Financial Services

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.