Discover Financial Services (NYSE:DFS) is Point72 Europe London LLP’s 5th Largest Position

Point72 Europe London LLP increased its position in Discover Financial Services (NYSE:DFS) by 25.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,501 shares of the financial services provider’s stock after purchasing an additional 46,900 shares during the period. Discover Financial Services accounts for 2.5% of Point72 Europe London LLP’s portfolio, making the stock its 5th biggest position. Point72 Europe London LLP’s holdings in Discover Financial Services were worth $30,283,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services in the 2nd quarter worth about $26,000. Y.D. More Investments Ltd boosted its stake in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew 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 worth $30,000 after purchasing an additional 95 shares during the period. Larson Financial Group LLC increased its stake in shares of Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Discover Financial Services in the 1st quarter worth approximately $34,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

NYSE DFS opened at $136.49 on Wednesday. The company has a 50-day moving average price of $134.74 and a 200-day moving average price of $128.93. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $34.27 billion, a P/E ratio of 15.56, a PEG ratio of 0.94 and a beta of 1.42.

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, beating analysts’ consensus estimates of $3.06 by $3.00. The business had revenue of $4.54 billion during 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 firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.54 earnings per share. Equities research analysts anticipate that Discover Financial Services will post 12.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.70 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.05%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DFS shares. BMO Capital Markets lifted their price objective 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. StockNews.com began coverage on Discover Financial Services in a report on Wednesday. They set a “hold” rating for the company. JPMorgan Chase & Co. upped 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 note on Friday, July 19th. BTIG Research initiated coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating for the company. Finally, Jefferies Financial Group upped 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. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $132.94.

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.