Howard Capital Management Inc. Boosts Stake in Discover Financial Services (NYSE:DFS)

Howard Capital Management Inc. increased its position in Discover Financial Services (NYSE:DFS) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,529 shares of the financial services provider’s stock after buying an additional 72 shares during the period. Howard Capital Management Inc.’s holdings in Discover Financial Services were worth $265,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC raised its position in Discover Financial Services by 2.0% during the third quarter. Private Advisor Group LLC now owns 13,181 shares of the financial services provider’s stock valued at $1,849,000 after purchasing an additional 255 shares during the period. International Assets Investment Management LLC purchased a new stake in Discover Financial Services during the third quarter valued at approximately $21,169,000. Assenagon Asset Management S.A. raised its position in Discover Financial Services by 2.6% during the third quarter. Assenagon Asset Management S.A. now owns 26,674 shares of the financial services provider’s stock valued at $3,742,000 after purchasing an additional 685 shares during the period. Dakota Wealth Management purchased a new stake in Discover Financial Services during the third quarter valued at approximately $358,000. Finally, Allworth Financial LP raised its position in Discover Financial Services by 22.6% during the third quarter. Allworth Financial LP now owns 4,808 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 886 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 2.9 %

Shares of NYSE:DFS opened at $187.66 on Wednesday. Discover Financial Services has a 52-week low of $118.74 and a 52-week high of $205.76. The stock has a market cap of $47.16 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The business’s 50 day moving average is $187.49 and its 200 day moving average is $164.38. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Sell-side analysts predict that Discover Financial Services will post 13.88 EPS 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. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.49%. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Truist Financial upped their target price on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Barclays upped 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, January 24th. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $191.91.

Discover Financial Services Company 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.