Moody Aldrich Partners LLC bought a new position in shares of Discover Financial Services (NYSE:DFS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 19,298 shares of the financial services provider’s stock, valued at approximately $967,000.
A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. grew its stake in Discover Financial Services by 0.7% during the 1st quarter. BlackRock Inc. now owns 21,489,597 shares of the financial services provider’s stock worth $766,534,000 after buying an additional 142,220 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Discover Financial Services by 42.6% during the 1st quarter. JPMorgan Chase & Co. now owns 7,155,617 shares of the financial services provider’s stock worth $255,242,000 after acquiring an additional 2,138,282 shares during the period. Nuveen Asset Management LLC lifted its position in Discover Financial Services by 17.4% during the 1st quarter. Nuveen Asset Management LLC now owns 4,096,389 shares of the financial services provider’s stock worth $146,118,000 after acquiring an additional 606,886 shares during the period. AQR Capital Management LLC lifted its position in Discover Financial Services by 47.6% during the 1st quarter. AQR Capital Management LLC now owns 3,507,813 shares of the financial services provider’s stock worth $125,124,000 after acquiring an additional 1,131,212 shares during the period. Finally, Capital Research Global Investors acquired a new stake in Discover Financial Services during the 1st quarter worth approximately $90,915,000. 82.64% of the stock is currently owned by institutional investors.
DFS stock traded down $0.98 during midday trading on Friday, hitting $49.43. 2,568,409 shares of the stock were exchanged, compared to its average volume of 3,302,450. The stock’s 50-day moving average price is $50.50 and its 200-day moving average price is $53.23. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 9.20 and a beta of 1.88. Discover Financial Services has a fifty-two week low of $23.25 and a fifty-two week high of $90.72. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.26 and a current ratio of 1.18.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.56%. The ex-dividend date is Wednesday, August 19th. Discover Financial Services’s payout ratio is 19.38%.
DFS has been the subject of a number of recent research reports. Wolfe Research initiated coverage on Discover Financial Services in a research report on Friday. They set an “outperform” rating for the company. JMP Securities increased their price objective on Discover Financial Services from $48.00 to $58.00 and gave the stock a “market outperform” rating in a research report on Friday, July 24th. Credit Suisse Group reaffirmed a “buy” rating on shares of Discover Financial Services in a research report on Monday, May 18th. Piper Sandler increased their price objective on Discover Financial Services from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Finally, Zacks Investment Research cut Discover Financial Services from a “hold” rating to a “sell” rating and set a $54.00 price target for the company. in a report on Tuesday, July 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Discover Financial Services presently has an average rating of “Hold” and a consensus price target of $62.93.
In related news, EVP Robert Andrew Eichfeld purchased 12,650 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was bought at an average price of $39.50 per share, with a total value of $499,675.00. Following the completion of the transaction, the executive vice president now owns 33,454 shares of the company’s stock, valued at approximately $1,321,433. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.
Discover Financial Services Company 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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