Global Assets Advisory LLC Makes New $223,000 Investment in Discover Financial Services (NYSE:DFS)

Global Assets Advisory LLC acquired a new stake in Discover Financial Services (NYSE:DFS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,278 shares of the financial services provider’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Discover Financial Services in the 4th quarter valued at about $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $351,766,000. Invesco Ltd. increased its holdings in shares of Discover Financial Services by 38.5% in the fourth quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider’s stock valued at $515,268,000 after purchasing an additional 826,287 shares during the period. Third Point LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter worth approximately $110,867,000. Finally, Empyrean Capital Partners LP acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $100,993,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 1.0 %

Discover Financial Services stock opened at $190.10 on Friday. Discover Financial Services has a fifty-two week low of $119.95 and a fifty-two week high of $205.76. The firm has a market capitalization of $47.84 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16. The stock’s fifty day moving average is $168.89 and its two-hundred day moving average is $176.46. 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 issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.92. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. During the same period in the prior year, the company earned $1.10 EPS. Analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Barclays increased their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada boosted their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, TD Securities decreased their price target on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $191.64.

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.