Impact Partnership Wealth LLC Makes New $624,000 Investment in Discover Financial Services (NYSE:DFS)

Impact Partnership Wealth LLC acquired a new stake in Discover Financial Services (NYSE:DFS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,603 shares of the financial services provider’s stock, valued at approximately $624,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DFS. State Street Corp increased its holdings in shares of Discover Financial Services by 0.8% in the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after purchasing an additional 80,601 shares during the period. FMR LLC grew 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 worth $1,051,314,000 after buying an additional 558,227 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Discover Financial Services by 0.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock worth $257,391,000 after buying an additional 12,255 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Discover Financial Services by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock worth $242,460,000 after buying an additional 7,751 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Discover Financial Services by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,063,980 shares of the financial services provider’s stock valued at $149,266,000 after acquiring an additional 4,594 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 1.7 %

Shares of NYSE:DFS opened at $200.89 on Friday. Discover Financial Services has a 12-month low of $99.79 and a 12-month high of $204.93. The company has a market cap of $50.48 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46. The stock has a 50 day moving average of $177.76 and a 200 day moving average of $153.68. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 27.52%. As a group, equities research analysts expect that Discover Financial Services will post 12.82 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is 17.54%.

Wall Street Analyst Weigh In

DFS has been the subject of a number of research reports. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the company from $150.00 to $239.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. cut their price target on shares of Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company lifted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays boosted their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Truist Financial assumed coverage on Discover Financial Services in a research report on Tuesday, January 7th. They set a “buy” rating and a $233.00 price target on the stock. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $175.43.

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.