Alley Investment Management Company LLC Has $13.62 Million Position in Discover Financial Services (NYSE:DFS)

Alley Investment Management Company LLC increased its holdings in shares of Discover Financial Services (NYSE:DFS) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,615 shares of the financial services provider’s stock after acquiring an additional 1,234 shares during the period. Discover Financial Services comprises about 1.7% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 25th biggest position. Alley Investment Management Company LLC’s holdings in Discover Financial Services were worth $13,618,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Discover Financial Services during the 4th quarter valued at about $351,766,000. FMR LLC boosted its position in Discover Financial Services by 8.0% in the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after buying an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC boosted its position in Discover Financial Services by 1,272.0% in the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock valued at $37,199,000 after buying an additional 245,829 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Discover Financial Services in the fourth quarter valued at about $39,067,000. Finally, Proficio Capital Partners LLC acquired a new position in Discover Financial Services in the fourth quarter valued at about $36,219,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Trading Down 2.5 %

Shares of NYSE DFS opened at $190.40 on Tuesday. Discover Financial Services has a twelve month low of $118.74 and a twelve month high of $205.76. The stock has a market cap of $47.91 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.51 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company’s fifty day moving average is $189.13 and its 200-day moving average is $166.20.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Equities research analysts predict that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.47%. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Truist Financial upped their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Keefe, Bruyette & Woods upped their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $191.91.

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.