APG Asset Management N.V. Has $64.89 Million Stock Position in Discover Financial Services (NYSE:DFS)

APG Asset Management N.V. cut its stake in shares of Discover Financial Services (NYSE:DFS) by 22.3% in the second quarter, Holdings Channel reports. The firm owned 531,618 shares of the financial services provider’s stock after selling 152,319 shares during the quarter. APG Asset Management N.V.’s holdings in Discover Financial Services were worth $64,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DFS. Opal Wealth Advisors LLC acquired a new position in shares of Discover Financial Services during the 2nd quarter worth about $26,000. Y.D. More Investments Ltd raised its position in shares of Discover Financial Services by 147.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Discover Financial Services by 72.5% during 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. Larson Financial Group LLC grew its holdings in 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 during the period. Finally, Riverview Trust Co bought a new stake in Discover Financial Services in the first quarter valued at approximately $34,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 1.8 %

Discover Financial Services stock opened at $138.30 on Friday. The company has a market cap of $34.68 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 0.94 and a beta of 1.42. The firm has a 50-day moving average of $134.63 and a 200-day moving average of $128.98. 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 has a one year low of $79.04 and a one year high of $147.61.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating the consensus estimate of $3.06 by $3.00. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.54 earnings per share. On average, equities analysts expect that Discover Financial Services will post 12.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a dividend of $0.70 per share. 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 2.02%. Discover Financial Services’s payout ratio is 31.93%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DFS. Barclays boosted their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods increased 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. BTIG Research started coverage on Discover Financial Services in a report on Friday, June 7th. They set a “neutral” rating on the stock. BMO Capital Markets increased their target price 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. Finally, Royal Bank of Canada lifted their price target 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. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $132.94.

Discover Financial Services Company 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.