Learn about financial services stocks (NYSE:DFS) acquired by National Asset Management Inc.


National Asset Management Inc. raised its position in shares of Discover Financial Services (NYSE:DFS) by 21.4% during the first quarter, reports Holdings Channel.com. The company held 3,905 shares of the financial services provider after acquiring an additional 689 shares during the period. National Asset Management Inc.’s holdings in Discover Financial Services were worth $430,000 when it last filed with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also changed their positions in the company. Oppenheimer Asset Management Inc. increased its stake in shares of Discover Financial Services by 7.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,565 shares of the financial services provider worth $3,532,000 after purchasing an additional 2,091 shares during the period. Greenleaf Trust increased its stake in shares of Discover Financial Services by 15.4% during the 1st quarter. Greenleaf Trust now owns 4,334 shares of the financial services provider worth $478,000 after purchasing an additional 579 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Discover Financial Services by 0.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,299,737 shares of the financial services provider worth $150,197,000 after purchasing an additional 10,603 shares during the period. AlphaCentric Advisors LLC acquired a new stake in shares of Discover Financial Services during Q4 worth approximately $85,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Discover Financial Services by 1.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 64,836 shares of the financial services provider worth $7,492,000 after purchasing an additional 1,224 shares during the period. Institutional investors and hedge funds hold 85.53% of the company’s shares.

Analysts set new price targets

A number of equity research analysts have recently released DFS stock reports. Bank of America lowered its price target on shares of Discover Financial Services from $128.00 to $120.00 in a Sunday July 24 research note. BMO Capital Markets lowered its price target on shares of Discover Financial Services from $131.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered its price target on shares of Discover Financial Services from $150.00 to $140.00 in a Friday, July 22 research note. Morgan Stanley lowered its price target on shares of Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating on the stock in a Friday, July 22 research note. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Discover Financial Services from $150.00 to $135.00 in a Monday July 11 research note. Seven research analysts gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $127.00.

Check out financial services stocks down 0.8%

NYSE DFS opened at $99.48 on Friday. Discover Financial Services has a 52-week low of $88.02 and a 52-week high of $135.69. The company has a quick ratio of 1.26, a current ratio of 1.09 and a debt ratio of 1.38. The company’s fifty-day simple moving average is $101.71 and its 200-day simple moving average is $110.30. The company has a market capitalization of $27.95 billion, a PE ratio of 6.48, a P/E/G ratio of 0.22 and a beta of 1.48.

Discover Financial Services (NYSE:DFS – Get Rating) last released its quarterly earnings data on Wednesday, July 20. The financial services provider reported earnings per share (EPS) of $3.96 for the quarter, beating the consensus estimate of $3.77 by $0.19. The company posted revenue of $3.22 billion for the quarter, versus analyst estimates of $3.18 billion. Discover Financial Services posted a net margin of 34.89% and a return on equity of 35.59%. Discover Financial Services revenue was down 9.9% year over year. During the same period of the previous year, the company achieved EPS of $5.55. As a group, stock analysts expect Discover Financial Services to post earnings per share of $15.19 for the current year.

Check out the financial services dividend announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8. Investors of record on Thursday, August 25 will receive a dividend of $0.60. The ex-dividend date is Wednesday, August 24. This represents an annualized dividend of $2.40 and a yield of 2.41%. Discover Financial Services’ dividend payout ratio (DPR) is currently 15.63%.

Discover the profile of the financial services company

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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; private student loans, personal loans, home loans and other consumer loans; and direct-to-consumer deposit products including savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and money transfer accounts.

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Want to see which other hedge funds hold DFS? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Discover Financial Services (NYSE:DFS – Get Rating).

Institutional ownership by quarter for Discover Financial Services (NYSE:DFS)



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