Generali Asset Management SPA SGR Invests $5.07 Million in Discover Financial Services (NYSE:DFS)

Generali Asset Management SPA SGR purchased a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,290 shares of the financial services provider’s stock, valued at approximately $5,074,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Birnam Oak Advisors LP acquired a new position in Discover Financial Services during the fourth quarter worth approximately $21,166,000. Flagship Wealth Advisors LLC acquired a new position in Discover Financial Services during the fourth quarter worth approximately $34,000. Signaturefd LLC increased its position in Discover Financial Services by 2.1% during the fourth quarter. Signaturefd LLC now owns 7,461 shares of the financial services provider’s stock worth $1,292,000 after buying an additional 152 shares during the period. Parallel Advisors LLC increased its position in Discover Financial Services by 5.9% during the fourth quarter. Parallel Advisors LLC now owns 6,894 shares of the financial services provider’s stock worth $1,194,000 after buying an additional 384 shares during the period. Finally, Gallacher Capital Management LLC increased its position in Discover Financial Services by 8.3% during the fourth quarter. Gallacher Capital Management LLC now owns 2,076 shares of the financial services provider’s stock worth $360,000 after buying an additional 159 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on DFS shares. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the company from $150.00 to $239.00 in a report on Monday, January 13th. Truist Financial boosted 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. Barclays boosted 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. Finally, 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 report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and a consensus target price of $191.91.

Discover Financial Services Stock Up 3.9 %

Discover Financial Services stock opened at $158.91 on Wednesday. The stock’s 50 day moving average price is $186.78 and its 200 day moving average price is $168.54. 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 cap of $39.98 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 1-year low of $119.31 and a 1-year high of $205.76.

Discover Financial Services (NYSE:DFS) last posted 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 return on equity of 26.18% and a net margin of 17.29%. On average, sell-side analysts predict that Discover Financial Services will post 13.88 EPS 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. Stockholders of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.76%. 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.