HM Payson & Co. decreased its stake in Discover Financial Services (NYSE:DFS) by 32.8% during the 4th quarter, Holdings Channel reports. The firm owned 5,131 shares of the financial services provider’s stock after selling 2,500 shares during the quarter. HM Payson & Co.’s holdings in Discover Financial Services were worth $465,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Windacre Partnership LLC acquired a new stake in shares of Discover Financial Services in the third quarter valued at about $278,482,000. Principal Financial Group Inc. grew its position in shares of Discover Financial Services by 47.7% in the fourth quarter. Principal Financial Group Inc. now owns 4,697,103 shares of the financial services provider’s stock valued at $425,229,000 after purchasing an additional 1,517,465 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Discover Financial Services by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,167,164 shares of the financial services provider’s stock valued at $377,254,000 after purchasing an additional 102,054 shares during the period. Boston Partners lifted its stake in shares of Discover Financial Services by 0.8% in the fourth quarter. Boston Partners now owns 3,328,492 shares of the financial services provider’s stock worth $301,328,000 after buying an additional 25,749 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Discover Financial Services in the fourth quarter worth about $270,545,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

Discover Financial Services stock opened at $98.80 on Thursday. The company’s 50 day simple moving average is $96.52 and its 200-day simple moving average is $83.24. The company has a market capitalization of $30.27 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 4.21 and a beta of 1.80. Discover Financial Services has a 1 year low of $31.09 and a 1 year high of $104.49. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.98 and a current ratio of 0.98.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.17. The business had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.81 billion. Discover Financial Services had a net margin of 7.89% and a return on equity of 11.00%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 EPS. Equities analysts expect that Discover Financial Services will post 3.26 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 4th. Stockholders of record on Thursday, February 18th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Wednesday, February 17th. Discover Financial Services’s dividend payout ratio (DPR) is 19.38%.

DFS has been the topic of several research reports. Oppenheimer reissued a “hold” rating on shares of Discover Financial Services in a research note on Tuesday, December 29th. Wells Fargo & Company raised their price target on shares of Discover Financial Services from $105.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Monday, March 22nd. Piper Sandler raised their price target on shares of Discover Financial Services from $94.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Discover Financial Services from $104.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, January 22nd. Finally, BMO Capital Markets raised their price target on shares of Discover Financial Services from $100.00 to $101.00 and gave the stock an “outperform” rating in a research note on Friday, January 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Discover Financial Services presently has an average rating of “Hold” and a consensus target price of $90.00.

In related news, EVP Brian Hughes sold 10,000 shares of Discover Financial Services stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $93.91, for a total value of $939,100.00. Following the completion of the transaction, the executive vice president now owns 56,620 shares in the company, valued at $5,317,184.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carlos Minetti sold 19,260 shares of Discover Financial Services stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $88.00, for a total transaction of $1,694,880.00. Following the completion of the transaction, the executive vice president now owns 147,293 shares of the company’s stock, valued at approximately $12,961,784. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company 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; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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