Heritage Investors Management Corp Lowers Holdings in Discover Financial Services (NYSE:DFS)

Heritage Investors Management Corp trimmed its position in Discover Financial Services (NYSE:DFS) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,017 shares of the financial services provider’s stock after selling 2,125 shares during the period. Heritage Investors Management Corp’s holdings in Discover Financial Services were worth $3,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its position in Discover Financial Services by 0.8% in the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock valued at $1,472,771,000 after buying an additional 80,601 shares during the last quarter. FMR LLC grew its position in Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after buying an additional 558,227 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Discover Financial Services in the fourth quarter valued at $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Discover Financial Services by 0.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock valued at $257,391,000 after acquiring an additional 12,255 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Discover Financial Services by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock valued at $242,460,000 after acquiring an additional 7,751 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays raised their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Truist Financial raised their target price on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada raised their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and an average price target of $191.91.

Discover Financial Services Trading Up 0.5 %

NYSE:DFS opened at $191.20 on Friday. The company has a market capitalization of $48.11 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. 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 has a 52-week low of $118.74 and a 52-week high of $205.76. The stock has a fifty day simple moving average of $188.37 and a 200-day simple moving average of $164.75.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data 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 expect that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is presently 17.54%.

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.