Integrated Advisors Network LLC Reduces Holdings in Discover Financial Services (NYSE:DFS)

Integrated Advisors Network LLC decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 7.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,685 shares of the financial services provider’s stock after selling 399 shares during the period. Integrated Advisors Network LLC’s holdings in Discover Financial Services were worth $657,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. abrdn plc grew its stake in shares of Discover Financial Services by 12.6% during the third quarter. abrdn plc now owns 102,552 shares of the financial services provider’s stock worth $14,357,000 after acquiring an additional 11,511 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Discover Financial Services by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 29,224 shares of the financial services provider’s stock valued at $4,099,000 after buying an additional 1,975 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Discover Financial Services by 4.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 61,765 shares of the financial services provider’s stock valued at $8,539,000 after buying an additional 2,403 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Discover Financial Services by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 59,479 shares of the financial services provider’s stock valued at $8,344,000 after buying an additional 1,434 shares during the last quarter. Finally, Forsta AP Fonden boosted its position in Discover Financial Services by 10.1% in the third quarter. Forsta AP Fonden now owns 65,400 shares of the financial services provider’s stock valued at $9,175,000 after buying an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 3.9 %

Shares of DFS stock opened at $148.43 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The company has a market cap of $37.27 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.94 and a beta of 1.41. The stock has a 50 day simple moving average of $140.21 and a 200-day simple moving average of $132.50. Discover Financial Services has a 1-year low of $81.09 and a 1-year high of $157.06.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the company earned $2.59 EPS. On average, equities research analysts expect that Discover Financial Services will post 13.15 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s dividend payout ratio is currently 22.60%.

Wall Street Analyst Weigh In

DFS has been the topic of a number of recent research reports. StockNews.com initiated coverage on Discover Financial Services in a research report on Sunday, October 27th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Wells Fargo & Company upped their target price on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped 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. Finally, Royal Bank of Canada upped their target price on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target of $136.53.

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; 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.