Journey Strategic Wealth LLC Purchases New Position in Discover Financial Services (NYSE:DFS)

Journey Strategic Wealth LLC purchased a new stake in Discover Financial Services (NYSE:DFS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,376 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently made changes to their positions in DFS. DiNuzzo Private Wealth Inc. lifted its stake in Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 157 shares during the last quarter. Grove Bank & Trust grew its holdings in Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Discover Financial Services in the third quarter worth $30,000. Hantz Financial Services Inc. purchased a new position in Discover Financial Services in the fourth quarter worth $37,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $47,000. Institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on DFS. Royal Bank of Canada lifted their price objective 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. Evercore ISI upped their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.64.

Discover Financial Services Stock Performance

NYSE:DFS opened at $198.60 on Tuesday. 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 firm has a market capitalization of $49.91 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.64 and a beta of 1.46. The company’s 50-day moving average is $181.46 and its two-hundred day moving average is $157.13. Discover Financial Services has a 1-year low of $104.08 and a 1-year high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Analysts forecast that Discover Financial Services will post 13.39 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.41%. Discover Financial Services’s dividend payout ratio (DPR) is presently 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.