Brooklyn Investment Group lifted its position in shares of Discover Financial Services (NYSE:DFS) by 9.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,288 shares of the financial services provider’s stock after buying an additional 290 shares during the quarter. Brooklyn Investment Group’s holdings in Discover Financial Services were worth $461,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in DFS. FMR LLC boosted its position in Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after purchasing an additional 558,227 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Discover Financial Services by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock valued at $242,460,000 after purchasing an additional 7,751 shares in the last quarter. Cooke & Bieler LP boosted its position in Discover Financial Services by 5.1% during the second quarter. Cooke & Bieler LP now owns 1,281,950 shares of the financial services provider’s stock valued at $167,692,000 after purchasing an additional 62,595 shares in the last quarter. Hsbc Holdings PLC raised its stake in Discover Financial Services by 6.7% in the second quarter. Hsbc Holdings PLC now owns 1,181,333 shares of the financial services provider’s stock valued at $154,064,000 after buying an additional 73,902 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in Discover Financial Services by 0.5% in the second quarter. AustralianSuper Pty Ltd now owns 1,162,495 shares of the financial services provider’s stock valued at $152,066,000 after buying an additional 6,042 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.
Discover Financial Services Stock Down 0.0 %
Shares of DFS opened at $182.59 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The stock’s 50 day moving average is $154.16 and its two-hundred day moving average is $138.66. The firm has a market cap of $45.84 billion, a P/E ratio of 14.74, a PEG ratio of 1.17 and a beta of 1.41. Discover Financial Services has a 12 month low of $85.19 and a 12 month high of $188.26.
Discover Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio is presently 22.60%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Evercore ISI increased their price target on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price target on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their price target on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Discover Financial Services has an average rating of “Hold” and an average price target of $138.81.
Read Our Latest Stock Report on Discover Financial Services
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.
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