California Public Employees Retirement System Sells 19,573 Shares of Discover Financial Services (NYSE:DFS)

California Public Employees Retirement System reduced its stake in shares of Discover Financial Services (NYSE:DFS) by 3.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 480,366 shares of the financial services provider’s stock after selling 19,573 shares during the period. California Public Employees Retirement System’s holdings in Discover Financial Services were worth $53,993,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at approximately $35,000. Anchor Investment Management LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at approximately $42,000. First Command Advisory Services Inc. purchased a new stake in shares of Discover Financial Services during the 3rd quarter valued at approximately $39,000. Finally, Larson Financial Group LLC lifted its stake in shares of Discover Financial Services by 105.8% during the 3rd quarter. Larson Financial Group LLC now owns 465 shares of the financial services provider’s stock valued at $40,000 after buying an additional 239 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Performance

Discover Financial Services stock opened at $125.68 on Friday. The firm’s fifty day moving average price is $123.45 and its 200-day moving average price is $107.01. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.13 and a current ratio of 1.05. The stock has a market cap of $31.49 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.45. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same period in the prior year, the business posted $3.58 EPS. On average, equities research analysts expect that Discover Financial Services will post 11.39 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DFS shares. HSBC upped their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Piper Sandler upped their price target on shares of Discover Financial Services from $127.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. The Goldman Sachs Group dropped their price target on shares of Discover Financial Services from $139.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Wells Fargo & Company increased their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Seaport Res Ptn cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.29.

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; private student loans, 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.