Essential Planning LLC. Invests $4.51 Million in Discover Financial Services (NYSE:DFS)

Essential Planning LLC. purchased a new position in Discover Financial Services (NYSE:DFS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 27,560 shares of the financial services provider’s stock, valued at approximately $4,513,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Discover Financial Services during the fourth quarter valued at about $33,000. Bfsg LLC bought a new stake in Discover Financial Services during the fourth quarter valued at about $35,000. Grove Bank & Trust grew its holdings in 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 purchasing an additional 89 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Discover Financial Services during the third quarter valued at about $30,000. Finally, Hantz Financial Services Inc. bought a new stake in Discover Financial Services during the fourth quarter valued at about $37,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

NYSE:DFS opened at $163.71 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $41.19 billion, a P/E ratio of 10.26, a P/E/G ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76. The business’s 50-day moving average is $188.22 and its 200 day moving average is $167.66.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, equities research analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given 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 yield of 1.71%. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Analysts Set New Price Targets

DFS has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Truist Financial boosted their price objective on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Barclays boosted their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Discover Financial Services has an average rating of “Hold” and a consensus price target of $191.91.

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.