Teachers Retirement System of The State of Kentucky Decreases Holdings in Discover Financial Services (NYSE:DFS)

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Discover Financial Services (NYSE:DFS) by 89.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,465 shares of the financial services provider’s stock after selling 171,683 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Discover Financial Services were worth $2,677,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services in the second quarter valued at about $26,000. Y.D. More Investments Ltd raised its position in shares of Discover Financial Services by 147.8% in the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $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% in the second 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 last quarter. Larson Financial Group LLC raised its position in shares of 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 buying an additional 195 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Discover Financial Services in the first quarter valued at about $34,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 0.7 %

DFS stock opened at $136.37 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The company’s 50 day moving average is $134.27 and its two-hundred day moving average is $129.55. The stock has a market cap of $34.20 billion, a P/E ratio of 15.55, a PEG ratio of 0.94 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter last year, the company earned $3.54 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. Research analysts expect that Discover Financial Services will post 12.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.05%. Discover Financial Services’s payout ratio is currently 31.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DFS. Jefferies Financial Group increased their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods raised their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. BMO Capital Markets raised their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. StockNews.com assumed coverage on shares of Discover Financial Services in a research report on Thursday. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $132.94.

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; 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.