Rafferty Asset Management LLC Raises Position in Discover Financial Services (NYSE:DFS)

Rafferty Asset Management LLC lifted its stake in Discover Financial Services (NYSE:DFS) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,583 shares of the financial services provider’s stock after buying an additional 3,457 shares during the period. Rafferty Asset Management LLC’s holdings in Discover Financial Services were worth $15,345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $38,489,000. Brookstone Capital Management purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $282,000. Meyer Handelman Co. purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $239,000. Mechanics Bank Trust Department purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $234,000. Finally, JBGlobal.com LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $346,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Up 0.0%

DFS opened at $200.18 on Friday. Discover Financial Services has a 12 month low of $119.95 and a 12 month high of $207.42. 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 has a market cap of $50.38 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.51 and a beta of 1.16. The stock’s 50 day moving average price is $171.48 and its 200 day moving average price is $177.96.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $3.33 by $0.92. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the firm earned $1.10 EPS. As a group, research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Securities decreased their target price on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. 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 note on Tuesday, April 8th. Truist Financial boosted their price target on Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $180.00 price target on shares of Discover Financial Services in a research note on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services presently has an average rating of “Moderate Buy” and a consensus target price 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.