AlphaQuest LLC Sells 5,225 Shares of Discover Financial Services (NYSE:DFS)

AlphaQuest LLC lessened its position in shares of Discover Financial Services (NYSE:DFS) by 76.9% in the fourth quarter, HoldingsChannel reports. The fund owned 1,567 shares of the financial services provider’s stock after selling 5,225 shares during the period. AlphaQuest LLC’s holdings in Discover Financial Services were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DFS. Atlantic Union Bankshares Corp boosted its position in shares of Discover Financial Services by 5.8% in the fourth quarter. Atlantic Union Bankshares Corp now owns 28,202 shares of the financial services provider’s stock valued at $4,885,000 after acquiring an additional 1,545 shares during the period. Larson Financial Group LLC grew its position in shares of Discover Financial Services by 18.9% during the 4th quarter. Larson Financial Group LLC now owns 459 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 73 shares in the last quarter. Andra AP fonden increased its holdings in shares of Discover Financial Services by 34.4% during the fourth quarter. Andra AP fonden now owns 116,900 shares of the financial services provider’s stock worth $20,251,000 after purchasing an additional 29,900 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $230,000. Finally, Callan Family Office LLC bought a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $2,870,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Trading Up 3.4 %

NYSE DFS opened at $164.67 on Friday. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76. The business’s fifty day moving average is $187.69 and its 200 day moving average is $168.06. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company has a market cap of $41.43 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. As a group, sell-side analysts expect that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is currently 17.54%.

Analyst Upgrades and Downgrades

DFS has been the subject of several analyst reports. Barclays lifted their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Truist Financial increased their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $191.91.

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.