Sumitomo Mitsui DS Asset Management Company Ltd Buys 803 Shares of Discover Financial Services (NYSE:DFS)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Discover Financial Services (NYSE:DFS) by 2.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,361 shares of the financial services provider’s stock after buying an additional 803 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Discover Financial Services were worth $4,961,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Axxcess Wealth Management LLC increased its stake in shares of 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 valued at $1,022,000 after acquiring an additional 4,478 shares in the last quarter. Gabelli Funds LLC acquired a new position in Discover Financial Services during the 1st quarter valued at about $983,000. William B. Walkup & Associates Inc. purchased a new position in shares of Discover Financial Services during the second quarter valued at approximately $4,835,000. Janus Henderson Group PLC boosted its holdings in 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 worth $8,197,000 after acquiring an additional 23,702 shares during the last quarter. Finally, Forge First Asset Management Inc. bought a new position in shares of Discover Financial Services during the first quarter valued at about $13,341,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

NYSE DFS opened at $148.68 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 12 month low of $79.04 and a 12 month high of $152.90. The stock has a market cap of $37.29 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 0.94 and a beta of 1.41. The company’s 50 day moving average is $137.08 and its two-hundred day moving average is $131.05.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.41. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. During the same period in the prior year, the firm earned $2.59 EPS. As a group, research analysts anticipate that Discover Financial Services will post 13.15 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Analysts Set New Price Targets

A number of brokerages recently commented on DFS. BMO Capital Markets lifted their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Evercore ISI upped their price objective on Discover Financial Services from $140.00 to $156.00 and gave the company an “in-line” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. upped their price target 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. Keefe, Bruyette & Woods increased their target price 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. Finally, Wells Fargo & Company lifted their price objective on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $136.12.

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; 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.