AIA Group Ltd Invests $1.85 Million in Discover Financial Services (NYSE:DFS)

AIA Group Ltd purchased a new stake in shares of Discover Financial Services (NYSE:DFS) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 10,700 shares of the financial services provider’s stock, valued at approximately $1,854,000.

Other large investors have also added to or reduced their stakes in the company. Townsquare Capital LLC boosted its position in Discover Financial Services by 4.5% in the 3rd quarter. Townsquare Capital LLC now owns 4,769 shares of the financial services provider’s stock valued at $669,000 after buying an additional 204 shares during the last quarter. Bridgewater Associates LP acquired a new position in shares of Discover Financial Services in the third quarter worth about $500,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Discover Financial Services by 2.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 57,400 shares of the financial services provider’s stock valued at $8,053,000 after purchasing an additional 1,400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Discover Financial Services during the 3rd quarter valued at approximately $30,000. Finally, Atom Investors LP raised its position in shares of Discover Financial Services by 69.5% in the 3rd quarter. Atom Investors LP now owns 3,489 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 1,430 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Up 7.7 %

NYSE:DFS opened at $170.90 on Tuesday. 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 50 day moving average of $184.07 and a 200-day moving average of $170.62. The firm has a market capitalization of $43.00 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Analysts predict that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.64%. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DFS shares. Royal Bank of Canada raised 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 research report on Friday, January 24th. Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and increased their target price for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.