QRG Capital Management Inc. Trims Stock Holdings in Discover Financial Services (NYSE:DFS)

QRG Capital Management Inc. reduced its stake in Discover Financial Services (NYSE:DFS) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,952 shares of the financial services provider’s stock after selling 979 shares during the period. QRG Capital Management Inc.’s holdings in Discover Financial Services were worth $2,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DFS. US Bancorp DE raised its holdings in Discover Financial Services by 0.8% in the 3rd quarter. US Bancorp DE now owns 39,695 shares of the financial services provider’s stock valued at $5,569,000 after buying an additional 308 shares during the period. Americana Partners LLC grew its position in Discover Financial Services by 23.0% in the 3rd quarter. Americana Partners LLC now owns 1,927 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 360 shares in the last quarter. Farther Finance Advisors LLC grew its position in Discover Financial Services by 20.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,922 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 321 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in Discover Financial Services by 0.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 22,120 shares of the financial services provider’s stock valued at $3,211,000 after acquiring an additional 96 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Discover Financial Services in the 3rd quarter valued at about $2,415,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial lifted their target price on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $191.91.

Discover Financial Services Price Performance

DFS stock opened at $195.38 on Monday. The business has a 50 day moving average price of $188.81 and a 200 day moving average price of $165.78. The stock has a market cap of $49.16 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.51 and a beta of 1.46. Discover Financial Services has a fifty-two week low of $118.74 and a fifty-two week high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is 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.