Discover Financial Services (NYSE:DFS) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its position in Discover Financial Services (NYSE:DFS) by 7.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,473 shares of the financial services provider’s stock after buying an additional 161 shares during the quarter. iA Global Asset Management Inc.’s holdings in Discover Financial Services were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of DFS. Partnership Wealth Management LLC purchased a new position in Discover Financial Services in the fourth quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in Discover Financial Services in the second quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 95 shares during the period. MeadowBrook Investment Advisors LLC purchased a new position in Discover Financial Services in the fourth quarter valued at $31,000. Finally, Riverview Trust Co purchased a new position in Discover Financial Services in the first quarter valued at $34,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DFS has been the subject of a number of recent research reports. StockNews.com initiated coverage on Discover Financial Services in a report on Sunday. They issued a “hold” rating for the company. BTIG Research assumed coverage on Discover Financial Services in a report on Friday, June 7th. They set a “neutral” rating for the company. BMO Capital Markets lifted their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods lifted their price target on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, Barclays lifted their price target on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $132.94.

Discover Financial Services Stock Performance

NYSE DFS opened at $138.71 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.28. The business’s 50 day moving average is $133.27 and its two-hundred day moving average is $126.81. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $147.61. The stock has a market capitalization of $34.79 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 0.90 and a beta of 1.43.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the previous year, the firm posted $3.54 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Research analysts expect that Discover Financial Services will post 12.23 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

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; 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.