Wedge Capital Management L L P NC boosted its stake in shares of Discover Financial Services (NYSE:DFS) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 376,224 shares of the financial services provider’s stock after purchasing an additional 38,340 shares during the period. Wedge Capital Management L L P NC owned about 0.12% of Discover Financial Services worth $31,911,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its stake in Discover Financial Services by 72.4% during the second quarter. Schroder Investment Management Group now owns 1,722,219 shares of the financial services provider’s stock valued at $133,627,000 after buying an additional 723,471 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Discover Financial Services in the 2nd quarter valued at about $12,135,000. Profund Advisors LLC boosted its position in shares of Discover Financial Services by 40.0% during the 2nd quarter. Profund Advisors LLC now owns 8,411 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 2,405 shares during the last quarter. RMB Capital Management LLC boosted its position in shares of Discover Financial Services by 16.1% during the 2nd quarter. RMB Capital Management LLC now owns 5,215 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 724 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Discover Financial Services by 8.4% during the second quarter. Asset Management One Co. Ltd. now owns 172,862 shares of the financial services provider’s stock worth $13,413,000 after purchasing an additional 13,443 shares in the last quarter. 84.54% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the stock. Credit Suisse Group upped their price objective on shares of Discover Financial Services from $98.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. ValuEngine lowered shares of Discover Financial Services from a “sell” rating to a “strong sell” rating in a research report on Friday, January 3rd. Nomura reissued a “neutral” rating and issued a $89.00 price target (down previously from $96.00) on shares of Discover Financial Services in a research note on Thursday, December 5th. JPMorgan Chase & Co. boosted their price target on shares of Discover Financial Services from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Co reissued a “neutral” rating on shares of Discover Financial Services in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $86.63.
Shares of NYSE DFS opened at $83.32 on Thursday. The stock’s 50-day moving average is $84.63 and its 200 day moving average is $82.58. The stock has a market cap of $26.03 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 1.18 and a beta of 1.61. Discover Financial Services has a 1-year low of $63.07 and a 1-year high of $92.98. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19.
Discover Financial Services (NYSE:DFS) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.07. Discover Financial Services had a return on equity of 26.79% and a net margin of 20.97%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Discover Financial Services’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts forecast that Discover Financial Services will post 9.06 EPS for the current fiscal year.
Discover Financial Services Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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