International Assets Investment Management LLC Acquires Shares of 150,897 Discover Financial Services (NYSE:DFS)

International Assets Investment Management LLC acquired a new stake in shares of Discover Financial Services (NYSE:DFS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 150,897 shares of the financial services provider’s stock, valued at approximately $21,169,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DFS. Norden Group LLC purchased a new position in shares of Discover Financial Services in the first quarter worth about $917,000. Kovack Advisors Inc. purchased a new position in shares of Discover Financial Services in the first quarter worth about $228,000. First Trust Direct Indexing L.P. lifted its stake in shares of Discover Financial Services by 5.9% in the first quarter. First Trust Direct Indexing L.P. now owns 16,044 shares of the financial services provider’s stock worth $2,103,000 after buying an additional 892 shares in the last quarter. New Century Financial Group LLC purchased a new position in shares of Discover Financial Services in the first quarter worth about $202,000. Finally, Leeward Investments LLC MA increased its position in Discover Financial Services by 87.1% during the first quarter. Leeward Investments LLC MA now owns 119,470 shares of the financial services provider’s stock worth $15,661,000 after purchasing an additional 55,630 shares during the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Trading Down 1.4 %

Shares of DFS stock opened at $150.80 on Wednesday. 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 stock has a market capitalization of $37.82 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The company has a 50 day moving average price of $139.45 and a 200 day moving average price of $132.23. Discover Financial Services has a fifty-two week low of $80.38 and a fifty-two week high of $157.06.

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

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.86%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DFS shares. 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. StockNews.com started coverage on shares of Discover Financial Services in a research report on Sunday. They set a “buy” rating for the company. Barclays raised their price objective on shares of 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. Evercore ISI raised their price objective on shares of Discover Financial Services from $140.00 to $156.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Finally, 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. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently 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.