Relyea Zuckerberg Hanson LLC Takes Position in Discover Financial Services (NYSE:DFS)

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Relyea Zuckerberg Hanson LLC purchased a new position in Discover Financial Services (NYSE:DFS) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,532 shares of the financial services provider’s stock, valued at approximately $215,000.

Several other hedge funds also recently made changes to their positions in the company. Nuveen Asset Management LLC lifted its position in Discover Financial Services by 707.0% during the second quarter. Nuveen Asset Management LLC now owns 2,719,868 shares of the financial services provider’s stock valued at $211,035,000 after purchasing an additional 2,382,825 shares during the period. AQR Capital Management LLC grew its position in shares of Discover Financial Services by 151.1% during the 2nd quarter. AQR Capital Management LLC now owns 2,080,467 shares of the financial services provider’s stock valued at $161,424,000 after acquiring an additional 1,251,827 shares during the period. BlackRock Inc. increased its stake in shares of Discover Financial Services by 3.7% in the 2nd quarter. BlackRock Inc. now owns 24,713,231 shares of the financial services provider’s stock worth $1,917,500,000 after purchasing an additional 887,296 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Discover Financial Services by 72.4% in the 2nd quarter. Schroder Investment Management Group now owns 1,722,219 shares of the financial services provider’s stock worth $133,627,000 after purchasing an additional 723,471 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Discover Financial Services by 43.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,483,404 shares of the financial services provider’s stock worth $120,291,000 after purchasing an additional 447,827 shares during the period. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Shares of Discover Financial Services stock opened at $83.32 on Thursday. The company has a market capitalization of $26.03 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 1.18 and a beta of 1.61. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 2.19. The stock’s 50-day simple moving average is $84.63 and its 200-day simple moving average is $82.58. Discover Financial Services has a 52 week low of $63.07 and a 52 week high of $92.98.

Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.07. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Discover Financial Services had a return on equity of 26.79% and a net margin of 20.97%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $2.05 earnings per share. On average, equities analysts expect that Discover Financial Services will post 9.06 earnings per share for the current year.

Several analysts have issued reports on the company. Wedbush reissued an “outperform” rating on shares of Discover Financial Services in a report on Wednesday, December 18th. ValuEngine cut Discover Financial Services from a “sell” rating to a “strong sell” rating in a research report on Friday, January 3rd. Credit Suisse Group lifted their price objective on Discover Financial Services from $98.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Co reiterated a “neutral” rating on shares of Discover Financial Services in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Discover Financial Services has a consensus rating of “Hold” and an average target price of $86.63.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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