Discover Financial Services (NYSE:DFS) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its position in shares of Discover Financial Services (NYSE:DFS) by 27.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,087 shares of the financial services provider’s stock after selling 414 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Discover Financial Services were worth $152,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Elser Financial Planning Inc purchased a new stake in shares of Discover Financial Services during the second quarter worth about $91,044,000. Samlyn Capital LLC grew its stake in Discover Financial Services by 368.0% during the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock valued at $84,594,000 after purchasing an additional 508,504 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in Discover Financial Services by 1,272.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after purchasing an additional 245,829 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Discover Financial Services by 67.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider’s stock valued at $62,606,000 after purchasing an additional 192,142 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Discover Financial Services in the 3rd quarter valued at approximately $21,169,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DFS. Evercore ISI upped their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $138.81.

Discover Financial Services Stock Performance

Shares of NYSE DFS opened at $182.50 on Thursday. Discover Financial Services has a 12-month low of $85.37 and a 12-month high of $188.26. The company has a market cap of $45.82 billion, a PE ratio of 14.73, a P/E/G ratio of 1.17 and a beta of 1.41. The stock has a 50 day simple moving average of $155.09 and a 200-day simple moving average of $138.97. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same quarter in the previous year, the firm posted $2.59 EPS. On average, equities research analysts forecast that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.53%. Discover Financial Services’s payout ratio is 22.60%.

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.