UniSuper Management Pty Ltd Purchases 8,228 Shares of Discover Financial Services (NYSE:DFS)

UniSuper Management Pty Ltd grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 311.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,871 shares of the financial services provider’s stock after buying an additional 8,228 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Discover Financial Services were worth $1,425,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Partnership Wealth Management LLC bought a new stake in Discover Financial Services during the 4th quarter valued at about $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $31,000. Riverview Trust Co bought a new position in Discover Financial Services in the first quarter worth approximately $34,000. Turtle Creek Wealth Advisors LLC purchased a new position in Discover Financial Services during the 4th quarter worth $35,000. Finally, West Paces Advisors Inc. increased its holdings in Discover Financial Services by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 316 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 166 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Performance

Shares of NYSE DFS traded down $0.22 during midday trading on Tuesday, reaching $139.60. 1,377,578 shares of the stock were exchanged, compared to its average volume of 1,837,538. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 1.50. The firm has a market cap of $35.01 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.98 and a beta of 1.44. The firm has a 50-day simple moving average of $128.01 and a two-hundred day simple moving average of $121.81. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating the consensus estimate of $3.06 by $3.00. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business earned $3.54 earnings per share. As a group, analysts anticipate that Discover Financial Services will post 11.77 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a $0.70 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.01%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DFS shares. Royal Bank of Canada increased their price target on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Friday. StockNews.com began coverage on Discover Financial Services in a report on Tuesday. They issued a “hold” rating on the stock. BTIG Research initiated coverage on Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Barclays lifted their target price on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Wells Fargo & Company increased their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $131.33.

About Discover Financial Services

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.