Discover Financial Services (NYSE:DFS) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its position in shares of Discover Financial Services (NYSE:DFS) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,253 shares of the financial services provider’s stock after selling 238 shares during the quarter. Kentucky Retirement Systems’ holdings in Discover Financial Services were worth $2,989,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bfsg LLC purchased a new stake in Discover Financial Services during the fourth quarter worth $35,000. Grove Bank & Trust raised its stake in shares of Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after buying an additional 89 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services in the 3rd quarter worth about $30,000. Hantz Financial Services Inc. acquired a new stake in Discover Financial Services in the 4th quarter valued at about $37,000. Finally, Decker Retirement Planning Inc. purchased a new position in Discover Financial Services during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Royal Bank of Canada upped their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Discover Financial Services has an average rating of “Hold” and an average price target of $186.46.

Discover Financial Services Stock Down 2.8 %

DFS opened at $194.21 on Friday. Discover Financial Services has a 12 month low of $118.74 and a 12 month high of $205.76. The business has a 50-day moving average of $186.87 and a two-hundred day moving average of $162.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The stock has a market capitalization of $48.81 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.53 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) 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 26.18%. On average, research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.44%. Discover Financial Services’s payout ratio is 17.54%.

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.