Oregon Public Employees Retirement Fund Has $2.63 Million Stock Position in Discover Financial Services (NYSE:DFS)

Oregon Public Employees Retirement Fund lowered its holdings in shares of Discover Financial Services (NYSE:DFS) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,942 shares of the financial services provider’s stock after selling 1,804 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Discover Financial Services were worth $2,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Discover Financial Services by 3.7% during the second quarter. BlackRock Inc. now owns 24,713,231 shares of the financial services provider’s stock worth $1,917,500,000 after purchasing an additional 887,296 shares during the period. Principal Financial Group Inc. grew its stake in Discover Financial Services by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 3,426,967 shares of the financial services provider’s stock worth $290,675,000 after purchasing an additional 109,909 shares during the period. Bessemer Group Inc. grew its stake in Discover Financial Services by 7.8% during the fourth quarter. Bessemer Group Inc. now owns 2,796,024 shares of the financial services provider’s stock worth $237,160,000 after purchasing an additional 202,068 shares during the period. Parametric Portfolio Associates LLC grew its stake in Discover Financial Services by 2.9% during the third quarter. Parametric Portfolio Associates LLC now owns 1,958,447 shares of the financial services provider’s stock worth $158,810,000 after purchasing an additional 54,484 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in Discover Financial Services by 43.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,483,404 shares of the financial services provider’s stock worth $120,291,000 after purchasing an additional 447,827 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

DFS has been the subject of a number of research reports. Credit Suisse Group raised their price objective on Discover Financial Services from $98.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Deutsche Bank reissued a “hold” rating and issued a $95.00 price objective (down previously from $97.00) on shares of Discover Financial Services in a research note on Friday, January 24th. Wells Fargo & Co reduced their price objective on Discover Financial Services from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Piper Sandler cut Discover Financial Services from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $96.00 to $86.00 in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $87.00.

Shares of NYSE:DFS opened at $76.42 on Friday. The stock has a market cap of $23.89 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.40 and a beta of 1.56. The company has a quick ratio of 1.28, a current ratio of 1.08 and a debt-to-equity ratio of 2.19. Discover Financial Services has a 12-month low of $69.11 and a 12-month high of $92.98. The business’s 50 day moving average is $80.49 and its 200 day moving average is $82.07.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.01. The company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Discover Financial Services had a return on equity of 26.25% and a net margin of 20.94%. Discover Financial Services’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 earnings per share. As a group, equities research analysts expect that Discover Financial Services will post 9.01 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 20th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.76 annualized dividend and a dividend yield of 2.30%. Discover Financial Services’s payout ratio is 19.38%.

In related news, CEO Roger C. Hochschild bought 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average price of $74.12 per share, with a total value of $1,111,800.00. Following the completion of the transaction, the chief executive officer now directly owns 849,085 shares in the company, valued at $62,934,180.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Greene bought 3,377 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average cost of $73.84 per share, for a total transaction of $249,357.68. Following the transaction, the chief financial officer now owns 27,502 shares of the company’s stock, valued at $2,030,747.68. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 21,777 shares of company stock worth $1,612,588. 0.81% of the stock is owned by insiders.

Discover Financial Services Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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