Kentucky Retirement Systems Decreases Stock Holdings in Discover Financial Services (NYSE:DFS)

Kentucky Retirement Systems cut its stake in Discover Financial Services (NYSE:DFS) by 0.6% in the second quarter, Holdings Channel.com reports. The firm owned 18,884 shares of the financial services provider’s stock after selling 106 shares during the quarter. Kentucky Retirement Systems’ holdings in Discover Financial Services were worth $2,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in Discover Financial Services during the second quarter worth about $26,000. Y.D. More Investments Ltd increased its holdings in shares of 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 worth $29,000 after buying an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Discover Financial Services by 72.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after buying an additional 95 shares during the period. Larson Financial Group LLC lifted its holdings in Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 195 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in Discover Financial Services in the first quarter worth approximately $34,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Down 1.0 %

Discover Financial Services stock opened at $142.49 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. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The stock’s 50 day moving average price is $134.78 and its 200 day moving average price is $128.58. The company has a market cap of $35.73 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.54 earnings per share. On average, sell-side analysts predict that Discover Financial Services will post 12.87 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 annualized dividend and a yield of 1.97%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analyst Ratings Changes

DFS has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Royal Bank of Canada raised their price objective 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. JPMorgan Chase & Co. upped their target price 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. StockNews.com assumed coverage on shares of Discover Financial Services in a research report on Tuesday. They issued a “hold” rating for the company. Finally, Jefferies Financial Group upped their price objective on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research report 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $132.94.

Discover Financial Services 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.