Vinva Investment Management Ltd Invests $1.56 Million in Discover Financial Services (NYSE:DFS)

Vinva Investment Management Ltd acquired a new position in Discover Financial Services (NYSE:DFS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,196 shares of the financial services provider’s stock, valued at approximately $1,559,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. National Pension Service lifted its position in Discover Financial Services by 14.8% during the third quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after purchasing an additional 56,814 shares in the last quarter. William B. Walkup & Associates Inc. bought a new position in shares of Discover Financial Services during the 2nd quarter valued at approximately $4,835,000. Janney Montgomery Scott LLC purchased a new stake in Discover Financial Services in the 3rd quarter worth approximately $2,415,000. Janus Henderson Group PLC raised its holdings in Discover Financial Services by 61.0% during the first quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider’s stock valued at $8,197,000 after acquiring an additional 23,702 shares during the period. Finally, Versor Investments LP boosted its stake in shares of Discover Financial Services by 21.5% in the third quarter. Versor Investments LP now owns 75,963 shares of the financial services provider’s stock worth $10,657,000 after acquiring an additional 13,427 shares during the period. 86.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on DFS. Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Royal Bank of Canada lifted their price target on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Evercore ISI lifted their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Discover Financial Services currently has an average rating of “Hold” and an average price target of $138.81.

Discover Financial Services Trading Down 0.1 %

DFS opened at $182.43 on Friday. 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 stock’s fifty day moving average is $156.66 and its two-hundred day moving average is $139.67. The company has a market capitalization of $45.80 billion, a P/E ratio of 14.72, a PEG ratio of 1.17 and a beta of 1.41. Discover Financial Services has a 52 week low of $89.58 and a 52 week high of $188.26.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $2.59 EPS. Analysts forecast that Discover Financial Services will post 13.34 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is 22.60%.

Discover Financial Services 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.