Strategy Asset Managers LLC Acquires Shares of 7,121 Discover Financial Services (NYSE:DFS)

Strategy Asset Managers LLC bought a new stake in Discover Financial Services (NYSE:DFS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,121 shares of the financial services provider’s stock, valued at approximately $931,000.

Several other institutional investors also recently modified their holdings of DFS. Partnership Wealth Management LLC purchased a new position in Discover Financial Services in the fourth quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Discover Financial Services in the 2nd quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. grew its position in Discover Financial Services by 72.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after buying an additional 95 shares during the period. MeadowBrook Investment Advisors LLC purchased a new stake in Discover Financial Services during the fourth quarter worth about $31,000. Finally, Larson Financial Group LLC raised its position in Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 195 shares during the period. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Price Performance

Shares of NYSE DFS traded up $0.03 during mid-day trading on Wednesday, reaching $138.15. 131,894 shares of the company were exchanged, compared to its average volume of 1,700,253. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61. The company’s 50 day moving average price is $133.73 and its 200 day moving average price is $127.45. The stock has a market capitalization of $34.64 billion, a PE ratio of 15.75, a PEG ratio of 0.96 and a beta of 1.43. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the firm posted $3.54 EPS. Discover Financial Services’s revenue for the quarter was up 17.0% compared to the same quarter last year. Sell-side analysts forecast that Discover Financial Services will post 12.75 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.03%. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DFS shares. BTIG Research started coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating for the company. Jefferies Financial Group boosted their price objective on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Barclays increased their target price on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Royal Bank of Canada upped their price target on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Finally, StockNews.com assumed coverage on shares of Discover Financial Services in a report on Sunday. They set a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $132.94.

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; private student loans, 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.