Discover Financial Services (NYSE:DFS) is Magnetar Financial LLC’s 4th Largest Position

Magnetar Financial LLC cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 18.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 463,576 shares of the financial services provider’s stock after selling 107,467 shares during the quarter. Discover Financial Services accounts for about 1.9% of Magnetar Financial LLC’s portfolio, making the stock its 4th largest holding. Magnetar Financial LLC’s holdings in Discover Financial Services were worth $80,305,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $38,489,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Discover Financial Services by 10.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock worth $16,202,000 after purchasing an additional 10,946 shares during the period. Brookstone Capital Management acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $282,000. Meyer Handelman Co. acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $239,000. Finally, Mechanics Bank Trust Department acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $234,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Trading Up 2.0 %

Shares of DFS stock opened at $162.05 on Thursday. The stock’s fifty day moving average is $186.51 and its two-hundred day moving average is $168.49. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The firm has a market capitalization of $40.77 billion, a P/E ratio of 10.15, a PEG ratio of 1.51 and a beta of 1.45. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 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%. Research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current fiscal 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 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 dividend yield of 1.73%. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DFS. Barclays lifted 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 note on Friday, January 24th. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Truist Financial lifted their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and an average target price of $191.91.

Discover Financial Services Company 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.