Discover Financial Services (NYSE:DFS) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 23.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 148,200 shares of the financial services provider’s stock after selling 45,000 shares during the period. Discover Financial Services comprises approximately 0.4% of Readystate Asset Management LP’s investment portfolio, making the stock its 27th biggest holding. Readystate Asset Management LP owned approximately 0.06% of Discover Financial Services worth $20,791,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DFS. Opal Wealth Advisors LLC acquired a new position in Discover Financial Services during the second quarter valued at $26,000. DiNuzzo Private Wealth Inc. raised its position in shares of Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 157 shares during the period. Y.D. More Investments Ltd raised its position in shares of Discover Financial Services by 147.8% in the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Discover Financial Services in the third quarter worth about $30,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 1.2 %

Shares of NYSE DFS opened at $176.31 on Thursday. Discover Financial Services has a 12-month low of $94.00 and a 12-month high of $188.26. The stock has a market cap of $44.27 billion, a PE ratio of 14.23, a P/E/G ratio of 1.15 and a beta of 1.45. 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 company has a 50-day moving average of $159.10 and a 200 day moving average of $140.88.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the company posted $2.59 EPS. As a group, sell-side analysts predict that Discover Financial Services will post 13.34 EPS for the current fiscal year.

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. The ex-dividend date is Thursday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.59%. Discover Financial Services’s dividend payout ratio (DPR) is 22.60%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective 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. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Finally, Evercore ISI upped their price objective on shares of 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. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services currently has an average rating of “Hold” and a consensus 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.