Flagship Wealth Advisors LLC Invests $34,000 in Discover Financial Services (NYSE:DFS)

Flagship Wealth Advisors LLC purchased a new position in Discover Financial Services (NYSE:DFS) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 198 shares of the financial services provider’s stock, valued at approximately $34,000.

Other institutional investors also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $351,766,000. FMR LLC raised its holdings in shares of Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after purchasing an additional 558,227 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $39,067,000. Raymond James Financial Inc. bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $38,489,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $36,219,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Shares of DFS opened at $158.91 on Wednesday. The company’s 50 day moving average price is $186.78 and its 200 day moving average price is $168.54. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The company has a market capitalization of $39.98 billion, a PE ratio of 9.96, a PEG ratio of 1.51 and a beta of 1.45. 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 announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Research analysts expect that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s payout ratio is presently 17.54%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Royal Bank of Canada boosted 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. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Keefe, Bruyette & Woods boosted their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.