DRW Securities LLC Purchases Shares of 12,592 Discover Financial Services (NYSE:DFS)

DRW Securities LLC purchased a new stake in Discover Financial Services (NYSE:DFS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 12,592 shares of the financial services provider’s stock, valued at approximately $1,647,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Axxcess Wealth Management LLC raised its holdings in Discover Financial Services by 135.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider’s stock worth $1,022,000 after acquiring an additional 4,478 shares during the period. D.A. Davidson & CO. lifted its position in shares of Discover Financial Services by 238.7% during the 4th quarter. D.A. Davidson & CO. now owns 14,783 shares of the financial services provider’s stock worth $1,662,000 after purchasing an additional 10,418 shares during the last quarter. Scotia Capital Inc. boosted its stake in Discover Financial Services by 57.6% during the 4th quarter. Scotia Capital Inc. now owns 25,404 shares of the financial services provider’s stock valued at $2,855,000 after purchasing an additional 9,287 shares during the period. Gabelli Funds LLC acquired a new stake in Discover Financial Services in the 1st quarter valued at approximately $983,000. Finally, Brave Warrior Advisors LLC increased its position in Discover Financial Services by 10.6% in the 4th quarter. Brave Warrior Advisors LLC now owns 2,633,167 shares of the financial services provider’s stock worth $295,968,000 after buying an additional 251,909 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 1.0 %

Shares of NYSE:DFS opened at $142.49 on Friday. The company has a market capitalization of $35.73 billion, a PE ratio of 16.25, a P/E/G ratio of 0.86 and a beta of 1.42. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. The company’s fifty day moving average is $134.78 and its 200-day moving average is $128.63. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the firm earned $3.54 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts predict that Discover Financial Services will post 12.87 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DFS shares. StockNews.com initiated coverage on Discover Financial Services in a research report on Tuesday, September 17th. They issued a “hold” rating for the company. BMO Capital Markets increased their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods boosted their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Barclays increased their target price on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.