Envestnet Portfolio Solutions Inc. Sells 39,079 Shares of Discover Financial Services (NYSE:DFS)

Envestnet Portfolio Solutions Inc. decreased its position in Discover Financial Services (NYSE:DFS) by 56.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 30,394 shares of the financial services provider’s stock after selling 39,079 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Discover Financial Services were worth $5,188,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Discover Financial Services by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock worth $5,377,961,000 after acquiring an additional 290,937 shares during the last quarter. FMR LLC grew its holdings in Discover Financial Services by 0.8% during the 4th quarter. FMR LLC now owns 7,553,016 shares of the financial services provider’s stock worth $1,308,409,000 after acquiring an additional 59,154 shares during the last quarter. Geode Capital Management LLC grew its holdings in Discover Financial Services by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider’s stock worth $1,082,826,000 after acquiring an additional 165,589 shares during the last quarter. Norges Bank bought a new stake in Discover Financial Services during the 4th quarter worth about $724,720,000. Finally, Invesco Ltd. grew its holdings in Discover Financial Services by 38.5% during the 4th quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider’s stock worth $515,268,000 after acquiring an additional 826,287 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DFS shares. Argus raised shares of Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. Truist Financial increased their price objective on shares of Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a report on Friday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $180.00 price objective on shares of Discover Financial Services in a report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.64.

Discover Financial Services Stock Performance

Discover Financial Services stock opened at $197.76 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 1 year low of $122.34 and a 1 year high of $207.42. The company has a market cap of $49.77 billion, a PE ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. The company’s 50-day moving average is $190.28 and its two-hundred day moving average is $182.64.

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

Discover Financial Services Company 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.