Rathbones Group PLC Has $418,000 Stock Position in Discover Financial Services (NYSE:DFS)

Rathbones Group PLC lessened its position in shares of Discover Financial Services (NYSE:DFS) by 99.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,193 shares of the financial services provider’s stock after selling 303,095 shares during the quarter. Rathbones Group PLC’s holdings in Discover Financial Services were worth $418,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC bought a new position in Discover Financial Services during the fourth quarter worth $300,000. ING Groep NV raised its position in shares of Discover Financial Services by 0.4% in the 4th quarter. ING Groep NV now owns 31,508 shares of the financial services provider’s stock worth $3,541,000 after acquiring an additional 129 shares in the last quarter. Norges Bank acquired a new position in shares of Discover Financial Services in the 4th quarter valued at about $322,199,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Discover Financial Services during the 4th quarter valued at about $215,000. Finally, Gladstone Institutional Advisory LLC acquired a new stake in Discover Financial Services during the fourth quarter worth approximately $336,000. Institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

DFS has been the topic of several recent analyst reports. BMO Capital Markets boosted their price target on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Jefferies Financial Group increased their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. BTIG Research started coverage on shares of Discover Financial Services in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Barclays raised their target price on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $132.94.

Discover Financial Services Stock Up 2.8 %

DFS opened at $137.63 on Wednesday. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $147.61. The firm has a market capitalization of $34.51 billion, a P/E ratio of 15.69, a PEG ratio of 0.86 and a beta of 1.42. The company’s 50-day moving average is $134.17 and its 200 day moving average is $128.26. 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 posted its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping the consensus estimate of $3.06 by $3.00. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.54 EPS. Research analysts expect that Discover Financial Services will post 12.87 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.03%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

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.