Choreo LLC Cuts Stock Holdings in Discover Financial Services (NYSE:DFS)

Choreo LLC decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,068 shares of the financial services provider’s stock after selling 1,752 shares during the period. Choreo LLC’s holdings in Discover Financial Services were worth $1,393,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. National Pension Service boosted its position in shares of Discover Financial Services by 14.8% during the third quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after buying an additional 56,814 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Discover Financial Services by 10.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after buying an additional 10,946 shares during the last quarter. Brookstone Capital Management purchased a new position in Discover Financial Services in the fourth quarter worth $282,000. Meyer Handelman Co. purchased a new position in Discover Financial Services in the fourth quarter worth $239,000. Finally, Janney Montgomery Scott LLC purchased a new position in Discover Financial Services in the third quarter worth $2,415,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on DFS shares. Barclays boosted their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their target price on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their target price on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada boosted 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. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.64.

Discover Financial Services Stock Performance

NYSE:DFS opened at $199.73 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a 52-week low of $106.65 and a 52-week high of $205.76. The firm has a market cap of $50.19 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.64 and a beta of 1.46. The business’s fifty day moving average is $182.89 and its 200 day moving average is $158.54.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share 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%. Research analysts predict that Discover Financial Services will post 13.39 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.40%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

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.