Mirae Asset Global Investments Co. Ltd. Raises Stake in Discover Financial Services (NYSE:DFS)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Discover Financial Services (NYSE:DFS) by 23.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 20,867 shares of the financial services provider’s stock after acquiring an additional 3,949 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Discover Financial Services were worth $2,906,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. lifted its holdings in Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 157 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in Discover Financial Services during the second quarter valued at about $26,000. Y.D. More Investments Ltd lifted its holdings in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Discover Financial Services by 72.5% during 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 purchasing an additional 95 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares during the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 1.4 %

DFS stock opened at $150.80 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The company’s 50 day moving average is $139.45 and its 200 day moving average is $132.23. The stock has a market cap of $37.82 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. Discover Financial Services has a 1-year low of $80.38 and a 1-year high of $157.06.

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

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders 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 yield of 1.86%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s payout ratio is currently 31.93%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets upped their price objective 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. Barclays increased their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Evercore ISI increased their price target on shares of Discover Financial Services from $140.00 to $156.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. JPMorgan Chase & Co. increased their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company increased their price target on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $136.12.

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.