Cove Private Wealth LLC Purchases New Shares in Discover Financial Services (NYSE:DFS)

Cove Private Wealth LLC acquired a new position in Discover Financial Services (NYSE:DFS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,250 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. grew its position in shares of 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 buying an additional 157 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Discover Financial Services in the third quarter worth about $30,000. Grove Bank & Trust grew its holdings in Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the period. Pinnacle Bancorp Inc. increased its stake 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 purchasing an additional 79 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Discover Financial Services by 27.4% during the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com upgraded Discover Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $160.00 to $185.00 and gave the company an “equal weight” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $171.71.

Discover Financial Services Trading Up 1.2 %

NYSE:DFS opened at $187.17 on Monday. The company has a market cap of $47.04 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.99 and a beta of 1.46. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The company has a 50 day simple moving average of $176.94 and a two-hundred day simple moving average of $152.41. Discover Financial Services has a 12 month low of $96.46 and a 12 month high of $189.27.

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.