Nomura Asset Management Co. Ltd. Decreases Stake in Discover Financial Services (NYSE:DFS)

Nomura Asset Management Co. Ltd. cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 5.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 109,332 shares of the financial services provider’s stock after selling 6,155 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Discover Financial Services were worth $18,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Discover Financial Services by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock valued at $5,377,961,000 after buying an additional 290,937 shares in the last quarter. State Street Corp lifted its position in shares of Discover Financial Services by 0.8% during the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after acquiring an additional 80,601 shares in the last quarter. Norges Bank purchased a new stake in shares of Discover Financial Services during the fourth quarter worth $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Discover Financial Services in the fourth quarter valued at $351,766,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Discover Financial Services by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock valued at $257,391,000 after purchasing an additional 12,255 shares during the period. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Down 2.6 %

Shares of DFS opened at $158.23 on Friday. The firm has a market cap of $39.81 billion, a P/E ratio of 9.91, 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 has a 1 year low of $119.31 and a 1 year high of $205.76. The stock has a 50 day simple moving average of $184.39 and a two-hundred day simple moving average of $170.03.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS 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 forecast that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors 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 yield of 1.77%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Barclays boosted their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Truist Financial lowered their target price 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, March 21st. Royal Bank of Canada upped their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $192.40.

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.