Pictet Asset Management Holding SA Acquires 15,574 Shares of Discover Financial Services (NYSE:DFS)

Pictet Asset Management Holding SA grew its holdings in Discover Financial Services (NYSE:DFS) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,325 shares of the financial services provider’s stock after purchasing an additional 15,574 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Discover Financial Services worth $25,175,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Discover Financial Services during the 3rd quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services during the fourth quarter valued at approximately $33,000. Flagship Wealth Advisors LLC acquired a new position in Discover Financial Services during the fourth quarter valued at approximately $34,000. Grove Bank & Trust grew its stake 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 valued at $35,000 after purchasing an additional 89 shares in the last quarter. Finally, Bfsg LLC acquired a new position in shares of Discover Financial Services during the 4th quarter worth approximately $35,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $170.90 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $43.00 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76. The company has a 50-day simple moving average of $184.07 and a two-hundred day simple moving average of $170.62.

Discover Financial Services (NYSE:DFS) last released 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%. Analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors 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 dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is currently 17.54%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their target price 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. Truist Financial decreased their price objective on shares of 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. Royal Bank of Canada upped their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Barclays lifted 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. Finally, JPMorgan Chase & Co. upped their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Seven 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 company currently has a consensus rating of “Hold” and a consensus 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.