New Century Financial Group LLC Sells 524 Shares of Discover Financial Services (NYSE:DFS)

New Century Financial Group LLC lowered its position in Discover Financial Services (NYSE:DFS) by 13.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,501 shares of the financial services provider’s stock after selling 524 shares during the period. New Century Financial Group LLC’s holdings in Discover Financial Services were worth $616,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. boosted its stake in Discover Financial Services by 506.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Discover Financial Services in the third quarter worth approximately $30,000. Grove Bank & Trust grew its holdings in shares of Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Discover Financial Services by 37.1% during the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Discover Financial Services by 27.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 68 shares during the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Up 1.7 %

DFS stock opened at $200.89 on Friday. The stock has a market capitalization of $50.49 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 52 week low of $99.79 and a 52 week high of $204.93. The firm has a 50 day moving average of $177.76 and a 200 day moving average of $153.68.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 13.78% and a return on equity of 22.08%. Sell-side analysts forecast that Discover Financial Services will post 14.15 earnings per share for the current year.

Discover Financial Services Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DFS shares. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Royal Bank of Canada upped their price objective on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their price objective on Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Truist Financial started coverage on shares of Discover Financial Services in a research note on Tuesday, January 7th. They set a “buy” rating and a $233.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and an average target price of $171.71.

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.