Prudential Financial Inc. Cuts Stake in Discover Financial Services (NYSE:DFS)

Prudential Financial Inc. cut its stake in shares of Discover Financial Services (NYSE:DFS) by 26.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 133,965 shares of the financial services provider’s stock after selling 47,344 shares during the period. Prudential Financial Inc.’s holdings in Discover Financial Services were worth $23,207,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Kingsview Wealth Management LLC raised its holdings in Discover Financial Services by 7.7% in the third quarter. Kingsview Wealth Management LLC now owns 1,664 shares of the financial services provider’s stock worth $233,000 after buying an additional 119 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Discover Financial Services by 53.8% during the third quarter. Larson Financial Group LLC now owns 386 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 135 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Discover Financial Services by 27.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 34,900 shares of the financial services provider’s stock worth $4,896,000 after acquiring an additional 7,505 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Discover Financial Services in the 3rd quarter worth approximately $587,000. Finally, Brown Brothers Harriman & Co. lifted its position in Discover Financial Services by 8.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,354 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

DFS opened at $166.29 on Thursday. The company’s 50 day moving average is $185.41 and its 200 day moving average is $169.63. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The company has a market cap of $41.84 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 12-month low of $119.31 and a 12-month high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, 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 declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.68%. 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

A number of analysts have commented on the company. Barclays lifted their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company lifted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. Royal Bank of Canada upped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $192.40.

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; 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.