Wealth Enhancement Advisory Services LLC Sells 2,100 Shares of Discover Financial Services (NYSE:DFS)

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Discover Financial Services (NYSE:DFS) by 3.2% during the 1st quarter, HoldingsChannel reports. The fund owned 62,702 shares of the financial services provider’s stock after selling 2,100 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Discover Financial Services were worth $8,220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ballentine Partners LLC raised its position in shares of Discover Financial Services by 3.1% in the 1st quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 86 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in Discover Financial Services by 3.3% in the fourth quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock worth $351,000 after buying an additional 99 shares during the last quarter. Simon Quick Advisors LLC lifted its stake in shares of Discover Financial Services by 1.7% in the fourth quarter. Simon Quick Advisors LLC now owns 6,397 shares of the financial services provider’s stock worth $719,000 after buying an additional 109 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Discover Financial Services by 14.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 854 shares of the financial services provider’s stock valued at $112,000 after buying an additional 109 shares during the last quarter. Finally, Czech National Bank increased its position in shares of Discover Financial Services by 0.3% during the fourth quarter. Czech National Bank now owns 43,796 shares of the financial services provider’s stock valued at $4,923,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 5.7 %

Discover Financial Services stock opened at $130.81 on Monday. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The firm has a market capitalization of $32.80 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 0.79 and a beta of 1.41. The firm has a 50 day moving average of $124.81 and a 200 day moving average of $118.86. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same period last year, the company earned $3.58 earnings per share. As a group, research analysts predict that Discover Financial Services will post 11.47 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.14%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analyst Ratings Changes

Several brokerages have commented on DFS. Jefferies Financial Group increased their target price on Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 19th. HSBC increased their price objective on Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. StockNews.com initiated coverage on shares of Discover Financial Services in a research note on Saturday. They set a “hold” rating on the stock. Wells Fargo & Company raised their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, Barclays raised their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a report on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $126.29.

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; private student loans, 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.