Alley Investment Management Company LLC Has $10.15 Million Stock Holdings in Discover Financial Services (NYSE:DFS)

Alley Investment Management Company LLC trimmed its position in Discover Financial Services (NYSE:DFS) by 24.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,433 shares of the financial services provider’s stock after selling 19,182 shares during the quarter. Alley Investment Management Company LLC’s holdings in Discover Financial Services were worth $10,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DFS. Raymond James Financial Inc. acquired a new position in shares of Discover Financial Services during the 4th quarter worth about $38,489,000. AIA Group Ltd bought a new position in Discover Financial Services during the 4th quarter worth approximately $1,854,000. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services during the fourth quarter valued at approximately $33,000. Blue Trust Inc. increased its stake in Discover Financial Services by 57.1% in the first quarter. Blue Trust Inc. now owns 597 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 217 shares in the last quarter. Finally, Trust Point Inc. raised its holdings in Discover Financial Services by 6.5% in the first quarter. Trust Point Inc. now owns 1,351 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 82 shares during the period. 86.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DFS has been the subject of several research reports. Jefferies Financial Group reissued a “hold” rating and set a $180.00 price objective on shares of Discover Financial Services in a research report on Wednesday, May 7th. JPMorgan Chase & Co. dropped 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. Wall Street Zen lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th. Argus upgraded Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. Finally, Truist Financial lifted their target price on Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Discover Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $191.64.

Discover Financial Services Stock Down 1.4%

Shares of NYSE:DFS traded down $2.73 during trading on Wednesday, hitting $197.76. 31,289,322 shares of the company were exchanged, compared to its average volume of 1,839,717. Discover Financial Services has a fifty-two week low of $122.37 and a fifty-two week high of $207.42. The stock has a market cap of $49.77 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.51 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The firm has a fifty day moving average price of $195.29 and a two-hundred day moving average price of $183.69.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the business earned $1.10 earnings per share. As a group, research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Company Profile

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.