abrdn plc Has $14.36 Million Stock Position in Discover Financial Services (NYSE:DFS)

abrdn plc boosted its stake in shares of Discover Financial Services (NYSE:DFS) by 12.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,552 shares of the financial services provider’s stock after purchasing an additional 11,511 shares during the quarter. abrdn plc’s holdings in Discover Financial Services were worth $14,357,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. lifted its stake in shares of Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after buying an additional 157 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services during the 2nd quarter worth approximately $26,000. Y.D. More Investments Ltd increased its position in shares of 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 period. Whittier Trust Co. of Nevada Inc. raised its stake 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 purchasing an additional 95 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in 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 worth $33,000 after purchasing an additional 195 shares during the period. 86.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DFS. BMO Capital Markets increased 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 research note on Friday, July 19th. Keefe, Bruyette & Woods raised their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Wells Fargo & Company upped their price objective on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their target price on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada boosted their price target on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.81.

Discover Financial Services Stock Up 1.9 %

Shares of DFS opened at $151.30 on Friday. The business’s fifty day moving average price is $140.58 and its two-hundred day moving average price is $132.71. The firm has a market capitalization of $37.99 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.00 and a beta of 1.41. Discover Financial Services has a 52 week low of $82.15 and a 52 week high of $157.06. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating 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 21.38% and a net margin of 13.78%. During the same quarter last year, the business earned $2.59 earnings per share. On average, analysts predict that Discover Financial Services will post 13.28 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s dividend payout ratio is 22.60%.

Discover Financial Services 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.