Discover Financial Services (NYSE:DFS) Stock Position Increased by ClearAlpha Technologies LP

ClearAlpha Technologies LP increased its stake in Discover Financial Services (NYSE:DFS) by 38.3% in the third quarter, Holdings Channel reports. The institutional investor owned 67,775 shares of the financial services provider’s stock after acquiring an additional 18,776 shares during the period. Discover Financial Services makes up about 2.6% of ClearAlpha Technologies LP’s investment portfolio, making the stock its 3rd biggest holding. ClearAlpha Technologies LP’s holdings in Discover Financial Services were worth $9,508,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Eagle Bluffs Wealth Management LLC raised its holdings in shares of Discover Financial Services by 0.5% in the third quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock worth $2,034,000 after buying an additional 67 shares during the period. Venturi Wealth Management LLC increased its stake in Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 68 shares during the period. Inlet Private Wealth LLC lifted its position in shares of Discover Financial Services by 2.4% during the third quarter. Inlet Private Wealth LLC now owns 3,185 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 75 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Discover Financial Services by 0.4% during the third quarter. First Trust Direct Indexing L.P. now owns 17,664 shares of the financial services provider’s stock worth $2,478,000 after purchasing an additional 75 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its stake in shares of Discover Financial Services by 24.4% during the second quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 76 shares during the period. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Performance

DFS stock opened at $182.43 on Monday. Discover Financial Services has a one year low of $89.58 and a one year high of $188.26. The firm has a market cap of $45.80 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.16 and a beta of 1.41. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The firm has a 50-day simple moving average of $156.66 and a two-hundred day simple moving average of $139.87.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.41. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same period last year, the firm earned $2.59 earnings per share. On average, equities analysts forecast that Discover Financial Services will post 13.34 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.53%. Discover Financial Services’s dividend payout ratio (DPR) is 22.60%.

Wall Street Analyst Weigh In

Several research firms recently commented on DFS. Royal Bank of Canada raised their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Evercore ISI lifted their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and a consensus target price of $138.81.

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.