Discover Financial Services (NYSE:DFS) Shares Sold by Wedgewood Investors Inc. PA

Wedgewood Investors Inc. PA cut its holdings in Discover Financial Services (NYSE:DFS) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,420 shares of the financial services provider’s stock after selling 100 shares during the period. Wedgewood Investors Inc. PA’s holdings in Discover Financial Services were worth $413,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Discover Financial Services by 2.9% during the fourth quarter. Brighton Jones LLC now owns 4,378 shares of the financial services provider’s stock worth $758,000 after purchasing an additional 125 shares in the last quarter. Fisher Asset Management LLC acquired a new position in Discover Financial Services during the fourth quarter worth $385,000. Jones Financial Companies Lllp lifted its stake in Discover Financial Services by 67.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,049 shares of the financial services provider’s stock worth $1,221,000 after purchasing an additional 2,849 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Discover Financial Services during the fourth quarter worth $33,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter worth $264,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $197.76 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company has a market cap of $49.77 billion, a P/E ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. Discover Financial Services has a 52 week low of $122.37 and a 52 week high of $207.42. The company has a 50-day moving average price of $195.87 and a 200 day moving average price of $183.93.

Discover Financial Services (NYSE:DFS) last issued 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 during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the company posted $1.10 earnings per share. Research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. TD Securities dropped their price objective on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group reaffirmed a “hold” rating and set a $180.00 price objective on shares of Discover Financial Services in a report on Wednesday, May 7th. Argus raised Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. Finally, Truist Financial raised their price objective on Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Seven 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.64.

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.