Envestnet Portfolio Solutions Inc. Sells 1,412 Shares of Discover Financial Services (NYSE:DFS)

Envestnet Portfolio Solutions Inc. lessened its stake in Discover Financial Services (NYSE:DFS) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,473 shares of the financial services provider’s stock after selling 1,412 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Discover Financial Services were worth $12,035,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DFS. Apollon Wealth Management LLC lifted its stake in shares of Discover Financial Services by 14.0% in the third quarter. Apollon Wealth Management LLC now owns 4,179 shares of the financial services provider’s stock valued at $586,000 after buying an additional 513 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of Discover Financial Services by 10.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,492 shares of the financial services provider’s stock valued at $771,000 after buying an additional 523 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Discover Financial Services by 8.5% in the third quarter. CIBC Asset Management Inc now owns 36,896 shares of the financial services provider’s stock valued at $5,176,000 after buying an additional 2,880 shares during the period. Empirical Finance LLC raised its position in Discover Financial Services by 1.8% in the third quarter. Empirical Finance LLC now owns 9,019 shares of the financial services provider’s stock worth $1,265,000 after purchasing an additional 157 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in Discover Financial Services by 3.9% in the third quarter. Natixis Advisors LLC now owns 170,825 shares of the financial services provider’s stock worth $23,965,000 after purchasing an additional 6,364 shares in the last quarter. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

DFS opened at $164.67 on Monday. Discover Financial Services has a one year low of $119.31 and a one year high of $205.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The company’s 50 day simple moving average is $187.69 and its 200-day simple moving average is $168.29. The stock has a market capitalization of $41.43 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Sell-side analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.70%. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

Analysts Set New Price Targets

Several research firms recently issued reports on DFS. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” 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 research report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada increased their price target on shares of 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. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $191.91.

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.