Allianz Asset Management GmbH Lowers Stake in Discover Financial Services (NYSE:DFS)

Allianz Asset Management GmbH lowered its position in shares of Discover Financial Services (NYSE:DFS) by 22.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 325,119 shares of the financial services provider’s stock after selling 93,368 shares during the period. Allianz Asset Management GmbH’s holdings in Discover Financial Services were worth $56,320,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Hemington Wealth Management lifted its holdings in Discover Financial Services by 11.0% during the fourth quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 50 shares in the last quarter. UMB Bank n.a. lifted its holdings in Discover Financial Services by 0.6% during the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock valued at $1,602,000 after purchasing an additional 56 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Discover Financial Services by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock valued at $1,067,000 after purchasing an additional 57 shares in the last quarter. Invst LLC lifted its holdings in Discover Financial Services by 0.9% during the third quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 62 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. lifted its holdings in Discover Financial Services by 3.2% during the third quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 2.8 %

Shares of DFS opened at $194.21 on Friday. The company’s fifty day moving average is $186.87 and its 200 day moving average is $163.19. Discover Financial Services has a fifty-two week low of $118.74 and a fifty-two week high of $205.76. The stock has a market capitalization of $48.81 billion, a PE ratio of 12.17, a P/E/G ratio of 1.51 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.

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 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%. Sell-side analysts expect that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders 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 yield of 1.44%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is 17.54%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DFS shares. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Evercore ISI boosted their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Truist Financial boosted their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $186.46.

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.