Primecap Management Co. CA Has $104.79 Million Stake in Discover Financial Services (NYSE:DFS)

Primecap Management Co. CA trimmed its stake in shares of Discover Financial Services (NYSE:DFS) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 604,903 shares of the financial services provider’s stock after selling 96,840 shares during the period. Primecap Management Co. CA owned about 0.24% of Discover Financial Services worth $104,787,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DFS. Point72 Asia Singapore Pte. Ltd. bought a new position in Discover Financial Services in the third quarter valued at $30,000. SBI Securities Co. Ltd. bought a new position in Discover Financial Services in the fourth quarter valued at $33,000. Flagship Wealth Advisors LLC bought a new position in Discover Financial Services in the fourth quarter valued at $34,000. Grove Bank & Trust grew its position 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 bought a new position in Discover Financial Services in the fourth quarter valued at $35,000. Institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DFS shares. Barclays raised their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company lifted 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 report on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $191.91.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $158.91 on Wednesday. The firm has a 50 day moving average of $186.78 and a 200-day moving average of $168.54. The stock has a market capitalization of $39.98 billion, a PE ratio of 9.96, a PEG ratio of 1.51 and a beta of 1.45. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating 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%. On average, equities research analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

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 issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

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.