September 27, 2022

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Allworth Financial LP Has $191,000 Stock Position in Discover Financial Services (NYSE:DFS)


Allworth Financial LP grew its stake in shares of Discover Financial Services (NYSE:DFS) by 11.0% during the 1st quarter, Holdings Channel reports. The firm owned 1,729 shares of the financial services provider’s stock after buying an additional 172 shares during the period. Allworth Financial LP’s holdings in Discover Financial Services were worth $191,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Wright Investors Service Inc. increased its position in shares of Discover Financial Services by 5.7% during the 1st quarter. Wright Investors Service Inc. now owns 1,941 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 105 shares during the last quarter. CVA Family Office LLC increased its position in shares of Discover Financial Services by 60.3% during the 1st quarter. CVA Family Office LLC now owns 465 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 175 shares during the last quarter. Strs Ohio increased its position in shares of Discover Financial Services by 308.5% during the 1st quarter. Strs Ohio now owns 308,197 shares of the financial services provider’s stock worth $33,960,000 after purchasing an additional 232,760 shares during the last quarter. Empirical Finance LLC increased its position in shares of Discover Financial Services by 11.2% during the 1st quarter. Empirical Finance LLC now owns 5,865 shares of the financial services provider’s stock worth $646,000 after purchasing an additional 591 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC increased its position in shares of Discover Financial Services by 8.3% during the 1st quarter. Gyroscope Capital Management Group LLC now owns 63,835 shares of the financial services provider’s stock worth $7,034,000 after purchasing an additional 4,868 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

DFS opened at $100.21 on Friday. The company has a market capitalization of $28.16 billion, a PE ratio of 5.91, a price-to-earnings-growth ratio of 0.23 and a beta of 1.48. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day simple moving average of $103.61 and a 200 day simple moving average of $111.93. Discover Financial Services has a 1 year low of $88.02 and a 1 year high of $135.69.

Discover Financial Services (NYSE:DFSGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $4.22 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.64. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Discover Financial Services had a return on equity of 41.57% and a net margin of 38.42%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.04 EPS. Equities analysts anticipate that Discover Financial Services will post 14.94 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 9th. Stockholders of record on Thursday, May 26th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, May 25th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.50. Discover Financial Services’s payout ratio is 14.16%.

Several research analysts have recently commented on DFS shares. Wolfe Research downgraded Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 target price for the company. in a research note on Thursday, May 12th. Citigroup lifted their target price on Discover Financial Services from $154.00 to $157.00 in a research note on Friday, April 29th. Piper Sandler reduced their target price on Discover Financial Services from $139.00 to $127.00 and set an “overweight” rating for the company in a research note on Wednesday, June 29th. StockNews.com started coverage on Discover Financial Services in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Discover Financial Services from $145.00 to $150.00 in a research note on Friday, April 29th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.07.

Discover Financial Services Profile (Get Rating)

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; private student loans, 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.

Further Reading

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFSGet Rating).

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



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