Voya Investment Management LLC Sells 821 Shares of Discover Financial Services (NYSE:DFS)

Voya Investment Management LLC trimmed its stake in Discover Financial Services (NYSE:DFS) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,073,016 shares of the financial services provider’s stock after selling 821 shares during the period. Voya Investment Management LLC’s holdings in Discover Financial Services were worth $185,879,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Discover Financial Services during the 4th quarter worth approximately $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Discover Financial Services during the fourth quarter valued at about $351,766,000. Invesco Ltd. raised its position in shares of Discover Financial Services by 38.5% in the 4th quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider’s stock valued at $515,268,000 after purchasing an additional 826,287 shares during the last quarter. Bank of Nova Scotia grew its position in Discover Financial Services by 208.9% during the 4th quarter. Bank of Nova Scotia now owns 561,405 shares of the financial services provider’s stock worth $97,252,000 after purchasing an additional 379,673 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake 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 valued at $5,377,961,000 after purchasing an additional 290,937 shares in the last quarter. Institutional investors own 86.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Truist Financial reduced their target price on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. cut their price target 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. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Finally, StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $188.40.

Discover Financial Services Trading Up 3.7 %

Shares of Discover Financial Services stock opened at $178.74 on Thursday. 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 stock’s 50 day simple moving average is $170.27 and its 200-day simple moving average is $173.02. The stock has a market cap of $44.97 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 1-year low of $119.95 and a 1-year high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 EPS for the quarter, topping 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. Analysts predict 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.