Sei Investments Co. Cuts Holdings in Discover Financial Services (NYSE:DFS)

Sei Investments Co. lowered its stake in shares of Discover Financial Services (NYSE:DFS) by 24.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,722 shares of the financial services provider’s stock after selling 23,504 shares during the quarter. Sei Investments Co.’s holdings in Discover Financial Services were worth $12,772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Discover Financial Services during the fourth quarter valued at about $351,766,000. Strategic Financial Concepts LLC bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $39,067,000. Raymond James Financial Inc. purchased a new position in shares of Discover Financial Services during the 4th quarter valued at about $38,489,000. Proficio Capital Partners LLC bought a new stake in Discover Financial Services in the 4th quarter worth approximately $36,219,000. Finally, KBC Group NV lifted its position in Discover Financial Services by 19.0% in the 4th quarter. KBC Group NV now owns 924,033 shares of the financial services provider’s stock worth $160,070,000 after buying an additional 147,558 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Truist Financial lowered their price target on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Barclays raised their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada boosted their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and an average price target of $192.40.

Discover Financial Services Trading Down 2.6 %

NYSE DFS opened at $158.23 on Friday. The stock has a market cap of $39.81 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The stock has a 50 day simple moving average of $184.39 and a two-hundred day simple moving average of $170.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.77%. Discover Financial Services’s payout ratio is 17.54%.

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.