Aprio Wealth Management LLC Makes New $225,000 Investment in Discover Financial Services (NYSE:DFS)

Aprio Wealth Management LLC bought a new position in shares of Discover Financial Services (NYSE:DFS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,300 shares of the financial services provider’s stock, valued at approximately $225,000.

Other hedge funds have also modified their holdings of the company. DiNuzzo Private Wealth Inc. boosted its position 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 worth $26,000 after acquiring an additional 157 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Discover Financial Services in the 3rd quarter worth approximately $30,000. Pinnacle Bancorp Inc. boosted its holdings in shares of Discover Financial Services by 37.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 79 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 68 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Discover Financial Services in the third quarter valued at approximately $53,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Trading Up 3.1 %

DFS opened at $181.10 on Wednesday. Discover Financial Services has a 52 week low of $96.46 and a 52 week high of $188.26. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The business has a fifty day simple moving average of $176.40 and a 200-day simple moving average of $151.42. The firm has a market cap of $45.51 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.12 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. The company had revenue of $5.91 billion during 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 period last year, the business posted $2.59 EPS. On average, equities analysts expect that Discover Financial Services will post 13.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DFS shares. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Royal Bank of Canada boosted their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $150.00 to $239.00 in a research report on Monday. Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $160.00 to $185.00 and gave the company an “equal weight” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $164.75.

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.