Aspire Private Capital LLC Reduces Stock Holdings in Discover Financial Services (NYSE:DFS)

Aspire Private Capital LLC cut its holdings in Discover Financial Services (NYSE:DFS) by 29.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,683 shares of the financial services provider’s stock after selling 717 shares during the period. Aspire Private Capital LLC’s holdings in Discover Financial Services were worth $287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DFS. Raymond James Financial Inc. purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at about $38,489,000. AIA Group Ltd acquired a new position in shares of Discover Financial Services during the 4th quarter worth approximately $1,854,000. SBI Securities Co. Ltd. acquired a new position in shares of Discover Financial Services during the 4th quarter worth approximately $33,000. Ritholtz Wealth Management lifted its stake in Discover Financial Services by 1.8% in the 1st quarter. Ritholtz Wealth Management now owns 3,629 shares of the financial services provider’s stock valued at $619,000 after buying an additional 64 shares in the last quarter. Finally, Trust Point Inc. boosted its stake in shares of Discover Financial Services by 6.5% during the first quarter. Trust Point Inc. now owns 1,351 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 82 shares during the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Performance

NYSE DFS opened at $197.76 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. Discover Financial Services has a 1-year low of $122.34 and a 1-year high of $207.42. The firm has a market capitalization of $49.77 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.51 and a beta of 1.16. The business’s 50-day simple moving average is $190.28 and its 200-day simple moving average is $182.68.

Discover Financial Services (NYSE:DFS) last posted its quarterly 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 net margin of 17.29% and a return on equity of 26.18%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter last year, the firm posted $1.10 earnings per share. Equities analysts predict that Discover Financial Services will post 13.88 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on DFS. Wall Street Zen cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Argus upgraded shares of Discover Financial Services to a “strong-buy” rating in a research report on Friday, April 25th. TD Securities cut their price target on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Jefferies Financial Group reissued a “hold” rating and set a $180.00 price target on shares of Discover Financial Services in a research note on Wednesday, May 7th. Finally, Truist Financial raised their price objective on Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Seven equities research 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. According to MarketBeat.com, Discover Financial Services has an average rating of “Moderate Buy” and a consensus price target of $191.64.

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.