Choreo LLC Invests $1.06 Million in Discover Financial Services (NYSE:DFS)

Choreo LLC acquired a new position in Discover Financial Services (NYSE:DFS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,975 shares of the financial services provider’s stock, valued at approximately $1,059,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DFS. Norges Bank acquired a new stake in shares of Discover Financial Services during the 4th quarter worth about $322,199,000. Brave Warrior Advisors LLC raised its stake in shares of Discover Financial Services by 10.6% in the 4th quarter. Brave Warrior Advisors LLC now owns 2,633,167 shares of the financial services provider’s stock valued at $295,968,000 after acquiring an additional 251,909 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Discover Financial Services by 60.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock worth $238,605,000 after acquiring an additional 803,738 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of Discover Financial Services by 5.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,281,950 shares of the financial services provider’s stock worth $167,692,000 after acquiring an additional 62,595 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Discover Financial Services by 67.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,257,086 shares of the financial services provider’s stock worth $141,297,000 after purchasing an additional 506,801 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Up 0.5 %

Shares of NYSE DFS opened at $129.34 on Friday. The business has a 50-day moving average of $133.87 and a two-hundred day moving average of $127.91. The company has a market capitalization of $32.44 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $147.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the prior year, the company posted $3.54 earnings per share. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, analysts forecast that Discover Financial Services will post 12.87 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.16%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Analysts Set New Price Targets

DFS has been the topic of a number of research reports. BMO Capital Markets upped their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. StockNews.com assumed coverage on Discover Financial Services in a research note on Monday. They set a “hold” rating on the stock. JPMorgan Chase & Co. lifted their target price on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods increased their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, BTIG Research assumed coverage on shares of Discover Financial Services in a report on Friday, June 7th. They issued a “neutral” rating for the company. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $132.94.

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.