Intech Investment Management LLC Sells 24,457 Shares of Discover Financial Services (NYSE:DFS)

Intech Investment Management LLC cut its stake in shares of Discover Financial Services (NYSE:DFS) by 63.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,916 shares of the financial services provider’s stock after selling 24,457 shares during the quarter. Intech Investment Management LLC’s holdings in Discover Financial Services were worth $1,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Discover Financial Services in the 2nd quarter worth $26,000. DiNuzzo Private Wealth Inc. raised its stake in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 157 shares during the period. Y.D. More Investments Ltd raised its stake in Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Discover Financial Services by 72.5% in the 2nd 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. Finally, Larson Financial Group LLC grew its holdings in Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after buying an additional 195 shares in the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Trading Up 2.5 %

NYSE:DFS opened at $179.29 on Monday. Discover Financial Services has a 12-month low of $85.19 and a 12-month high of $188.26. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The stock’s 50 day simple moving average is $152.29 and its 200-day simple moving average is $137.83. The firm has a market cap of $45.01 billion, a P/E ratio of 14.47, a PEG ratio of 1.12 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the firm earned $2.59 earnings per share. Equities analysts anticipate that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is 22.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DFS shares. Evercore ISI lifted their target price on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada boosted their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $138.81.

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; 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.