Ritholtz Wealth Management Sells 81 Shares of Discover Financial Services (NYSE:DFS)

Ritholtz Wealth Management trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,683 shares of the financial services provider’s stock after selling 81 shares during the quarter. Ritholtz Wealth Management’s holdings in Discover Financial Services were worth $517,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DFS. 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 purchasing an additional 4,478 shares during the period. Gabelli Funds LLC bought a new position in shares of Discover Financial Services in the first quarter worth about $983,000. William B. Walkup & Associates Inc. purchased a new position in shares of Discover Financial Services during the 2nd quarter valued at about $4,835,000. Janus Henderson Group PLC grew its stake in shares of Discover Financial Services by 61.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider’s stock valued at $8,197,000 after acquiring an additional 23,702 shares during the period. Finally, Forge First Asset Management Inc. purchased a new stake in Discover Financial Services in the 1st quarter worth approximately $13,341,000. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Trading Down 0.1 %

Shares of DFS opened at $147.14 on Wednesday. The company’s fifty day simple moving average is $135.64 and its 200-day simple moving average is $130.63. The company has a market cap of $36.90 billion, a P/E ratio of 16.78, a P/E/G ratio of 0.94 and a beta of 1.41. 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 $149.97.

Discover Financial Services (NYSE:DFS) last posted 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 analyst estimates of $4.18 billion. During the same period in the prior year, the company posted $3.54 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, analysts expect that Discover Financial Services will post 13.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Discover Financial Services from $140.00 to $156.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Royal Bank of Canada upped their target price on shares of Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a report on Friday, July 19th. BMO Capital Markets raised their price target on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. boosted their price objective on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Barclays increased their target price on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” 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 MarketBeat, the stock has an average rating of “Hold” and an average price target of $133.88.

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.