Samlyn Capital LLC Increases Stock Position in Discover Financial Services (NYSE:DFS)

Samlyn Capital LLC raised its stake in shares of Discover Financial Services (NYSE:DFS) by 368.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 646,691 shares of the financial services provider’s stock after acquiring an additional 508,504 shares during the quarter. Discover Financial Services makes up 1.4% of Samlyn Capital LLC’s portfolio, making the stock its 26th biggest position. Samlyn Capital LLC’s holdings in Discover Financial Services were worth $84,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in DFS. Envestnet Asset Management Inc. boosted its stake in Discover Financial Services by 60.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after acquiring an additional 803,738 shares during the last quarter. Elser Financial Planning Inc bought a new position in Discover Financial Services during the 2nd quarter valued at $91,044,000. Magnetar Financial LLC bought a new position in Discover Financial Services during the 1st quarter valued at $71,693,000. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $141,297,000 after acquiring an additional 506,801 shares during the last quarter. Finally, M&G Plc bought a new position in Discover Financial Services during the 1st quarter valued at $62,829,000. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Stock Performance

Shares of DFS opened at $140.18 on Tuesday. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $147.61. The firm’s 50 day moving average is $134.84 and its 200-day moving average is $128.82. The stock has a market capitalization of $35.15 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.86 and a beta of 1.42. 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 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. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the company posted $3.54 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts anticipate that Discover Financial Services will post 12.87 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, August 22nd. Discover Financial Services’s payout ratio is 31.93%.

Analysts Set New Price Targets

A number of research firms have commented on DFS. Royal Bank of Canada increased their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods raised 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. Barclays raised their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. BTIG Research initiated coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, 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 research report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Discover Financial Services presently has an average rating of “Hold” and an average price target 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.