221,099 Shares in Discover Financial Services (NYSE:DFS) Acquired by Todd Asset Management LLC

Todd Asset Management LLC bought a new position in Discover Financial Services (NYSE:DFS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 221,099 shares of the financial services provider’s stock, valued at approximately $24,852,000. Todd Asset Management LLC owned approximately 0.09% of Discover Financial Services at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DFS. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Discover Financial Services by 2.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,178 shares of the financial services provider’s stock worth $4,347,000 after buying an additional 1,300 shares in the last quarter. Xponance Inc. boosted its stake in Discover Financial Services by 2.7% in the third quarter. Xponance Inc. now owns 31,876 shares of the financial services provider’s stock worth $2,761,000 after buying an additional 850 shares in the last quarter. Dakota Wealth Management purchased a new stake in Discover Financial Services in the third quarter worth approximately $290,000. Raymond James & Associates boosted its stake in Discover Financial Services by 9.0% in the third quarter. Raymond James & Associates now owns 267,265 shares of the financial services provider’s stock worth $23,153,000 after buying an additional 22,022 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Discover Financial Services by 10.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 159,752 shares of the financial services provider’s stock worth $13,839,000 after buying an additional 14,708 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Up 0.4 %

DFS traded up $0.53 during trading on Friday, reaching $125.04. The stock had a trading volume of 811,004 shares, compared to its average volume of 1,326,064. The stock’s 50 day moving average is $124.41 and its two-hundred day moving average is $108.48. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $31.34 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.74 and a beta of 1.43. Discover Financial Services has a one year low of $79.04 and a one year high of $131.65.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same quarter last year, the company posted $3.58 EPS. As a group, analysts expect that Discover Financial Services will post 11.86 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DFS shares. Barclays increased their price objective on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. StockNews.com started coverage on Discover Financial Services in a research note on Saturday. They set a “hold” rating for the company. Morgan Stanley raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $105.00 to $133.00 in a research note on Thursday, February 8th. Wells Fargo & Company increased their price objective on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI increased their price objective on Discover Financial Services from $117.00 to $140.00 and gave the company an “in-line” rating in a research note on Thursday, February 22nd. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target of $126.29.

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; private student loans, 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.