Generali Asset Management SPA SGR Makes New $5.07 Million Investment in Discover Financial Services (NYSE:DFS)

Generali Asset Management SPA SGR purchased a new position in shares of Discover Financial Services (NYSE:DFS) in the 4th quarter, Holdings Channel.com reports. The fund purchased 29,290 shares of the financial services provider’s stock, valued at approximately $5,074,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $351,766,000. FMR LLC boosted its position in shares of 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 worth $1,051,314,000 after buying an additional 558,227 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $39,067,000. Raymond James Financial Inc. purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $38,489,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $36,219,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Trading Up 3.9 %

NYSE:DFS opened at $158.91 on Wednesday. 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 business’s 50 day moving average is $186.78 and its two-hundred day moving average is $168.54. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The company has a market cap of $39.98 billion, a PE ratio of 9.96, a P/E/G ratio of 1.51 and a beta of 1.45.

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

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DFS shares. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Truist Financial increased their price target on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada increased their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.