Nuveen Asset Management LLC Acquires 443,521 Shares of Discover Financial Services (NYSE:DFS)

Nuveen Asset Management LLC increased its holdings in shares of Discover Financial Services (NYSE:DFS) by 48.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,365,660 shares of the financial services provider’s stock after acquiring an additional 443,521 shares during the period. Nuveen Asset Management LLC’s holdings in Discover Financial Services were worth $236,573,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in shares of Discover Financial Services during the fourth quarter worth $33,000. Flagship Wealth Advisors LLC bought a new stake in Discover Financial Services during the 4th quarter valued at about $34,000. Bfsg LLC purchased a new stake in Discover Financial Services in the 4th quarter valued at about $35,000. Grove Bank & Trust boosted its position in Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the period. Finally, Hantz Financial Services Inc. bought a new position in Discover Financial Services in the 4th quarter worth about $37,000. 86.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial boosted their price target on Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a report on Friday, April 25th. Jefferies Financial Group reissued a “hold” rating and set a $180.00 price target on shares of Discover Financial Services in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price objective 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. 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 note on Friday, January 24th. Finally, Royal Bank of Canada increased 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. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Discover Financial Services currently has an average rating of “Moderate Buy” and a consensus target price of $191.64.

Discover Financial Services Stock Performance

DFS stock opened at $200.18 on Friday. The firm has a 50-day simple moving average of $171.48 and a two-hundred day simple moving average of $177.96. 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 has a one year low of $119.95 and a one year high of $207.42. The firm has a market cap of $50.38 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.92. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.25 billion. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. During the same period in the prior year, the company posted $1.10 EPS. On average, equities analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

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.