Kestra Private Wealth Services LLC Purchases 2,484 Shares of Discover Financial Services (NYSE:DFS)

Kestra Private Wealth Services LLC boosted its position in Discover Financial Services (NYSE:DFS) by 32.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,174 shares of the financial services provider’s stock after acquiring an additional 2,484 shares during the period. Kestra Private Wealth Services LLC’s holdings in Discover Financial Services were worth $1,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. boosted its holdings 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 acquiring an additional 157 shares in the last quarter. Grove Bank & Trust boosted 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 acquiring an additional 89 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Discover Financial Services in the third quarter worth approximately $30,000. Hantz Financial Services Inc. bought a new position in Discover Financial Services in the fourth quarter worth approximately $37,000. Finally, Decker Retirement Planning Inc. bought a new position in Discover Financial Services in the fourth quarter worth approximately $47,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of DFS opened at $194.95 on Wednesday. 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 $48.99 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.63 and a beta of 1.46. The stock has a 50 day moving average of $183.54 and a 200 day moving average of $159.60. Discover Financial Services has a 12 month low of $107.10 and a 12 month high of $205.76.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (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%. As a group, sell-side analysts forecast that Discover Financial Services will post 13.57 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays increased their price target on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Truist Financial increased their price objective on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods increased their price objective on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Finally, UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $186.46.

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.