Atria Investments Inc Boosts Holdings in Discover Financial Services (NYSE:DFS)

Atria Investments Inc increased its holdings in Discover Financial Services (NYSE:DFS) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,177 shares of the financial services provider’s stock after purchasing an additional 1,394 shares during the period. Atria Investments Inc’s holdings in Discover Financial Services were worth $2,456,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new position in shares of Discover Financial Services in the 3rd quarter worth $2,415,000. Concurrent Investment Advisors LLC raised its position in shares of Discover Financial Services by 6.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,678 shares of the financial services provider’s stock valued at $516,000 after buying an additional 217 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Discover Financial Services by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 294,975 shares of the financial services provider’s stock valued at $41,382,000 after buying an additional 9,463 shares in the last quarter. Leavell Investment Management Inc. purchased a new stake in shares of Discover Financial Services during the 3rd quarter valued at about $203,000. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Discover Financial Services during the 3rd quarter valued at about $2,545,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

Shares of DFS stock opened at $167.38 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The company has a market capitalization of $42.11 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.51 and a beta of 1.45. The company’s 50-day simple moving average is $189.03 and its two-hundred day simple moving average is $167.33. Discover Financial Services has a one year low of $119.31 and a one year high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its earnings results 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 net margin of 17.29% and a return on equity of 26.18%. As a group, equities analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The business 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 of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.67%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analysts Set New Price Targets

Several analysts have recently issued reports on DFS shares. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Barclays upped their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Truist Financial upped their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped 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, Wells Fargo & Company upped their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $191.91.

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.