Moran Wealth Management LLC Has $12.17 Million Holdings in Discover Financial Services (NYSE:DFS)

Moran Wealth Management LLC increased its position in Discover Financial Services (NYSE:DFS) by 0.2% in the third quarter, HoldingsChannel reports. The firm owned 86,717 shares of the financial services provider’s stock after acquiring an additional 194 shares during the period. Moran Wealth Management LLC’s holdings in Discover Financial Services were worth $12,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Kingsview Wealth Management LLC acquired a new stake in shares of Discover Financial Services during the 1st quarter valued at $214,000. UniSuper Management Pty Ltd boosted its position in Discover Financial Services by 311.3% during the first quarter. UniSuper Management Pty Ltd now owns 10,871 shares of the financial services provider’s stock worth $1,425,000 after purchasing an additional 8,228 shares during the period. Bessemer Group Inc. grew its holdings in Discover Financial Services by 3.8% during the first quarter. Bessemer Group Inc. now owns 13,349 shares of the financial services provider’s stock valued at $1,750,000 after purchasing an additional 491 shares during the last quarter. Lake Street Advisors Group LLC raised its position in shares of Discover Financial Services by 33.9% in the first quarter. Lake Street Advisors Group LLC now owns 3,992 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 1,010 shares during the period. Finally, InterOcean Capital Group LLC acquired a new stake in shares of Discover Financial Services in the first quarter worth $205,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Trading Down 0.1 %

DFS stock traded down $0.22 during midday trading on Wednesday, reaching $172.28. The stock had a trading volume of 83,941 shares, compared to its average volume of 1,675,758. The business has a fifty day simple moving average of $149.54 and a two-hundred day simple moving average of $136.74. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The firm has a market cap of $43.25 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.14 and a beta of 1.41. Discover Financial Services has a twelve month low of $85.19 and a twelve month high of $188.26.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same period last year, the company earned $2.59 earnings per share. As a group, research analysts expect that Discover Financial Services will post 13.23 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.63%. Discover Financial Services’s payout ratio is currently 22.60%.

Analysts Set New Price Targets

A number of research analysts have weighed in on DFS shares. Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Evercore ISI boosted their price objective on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their target price on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Finally, StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $138.81.

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.