Discover Financial Services (NYSE:DFS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in Discover Financial Services (NYSE:DFS) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,165,291 shares of the financial services provider’s stock after selling 15,494 shares during the quarter. Envestnet Asset Management Inc. owned 0.46% of Discover Financial Services worth $201,863,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hemington Wealth Management raised its position in shares of Discover Financial Services by 11.0% during the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 50 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Discover Financial Services by 0.6% during the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock valued at $1,602,000 after acquiring an additional 56 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Discover Financial Services by 0.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 57 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Discover Financial Services by 4.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 57 shares during the last quarter. Finally, Invst LLC boosted its stake in shares of Discover Financial Services by 0.9% in the third quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Down 9.0 %

Shares of NYSE:DFS opened at $146.77 on Monday. The business has a 50-day moving average price of $181.35 and a 200 day moving average price of $171.43. Discover Financial Services has a 12-month low of $119.31 and a 12-month high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $36.93 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 1.51 and a beta of 1.20.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating 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%. Sell-side analysts expect that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 dividend yield of 1.91%. Discover Financial Services’s payout ratio is presently 17.54%.

Analyst Ratings Changes

A number of brokerages have weighed in on DFS. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Royal Bank of Canada raised their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Barclays raised their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Truist Financial dropped their price target on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $192.40.

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.