Lincoln National Corp Has $901,000 Stock Holdings in Discover Financial Services (NYSE:DFS)

Lincoln National Corp cut its position in Discover Financial Services (NYSE:DFS) by 18.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,906 shares of the financial services provider’s stock after selling 2,280 shares during the period. Lincoln National Corp’s holdings in Discover Financial Services were worth $901,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ronald Blue Trust Inc. acquired a new position in Discover Financial Services during the 2nd quarter valued at about $28,000. GHE LLC acquired a new position in Discover Financial Services during the 2nd quarter valued at about $33,000. Northern Oak Wealth Management Inc. boosted its stake in Discover Financial Services by 200.0% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 300 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Discover Financial Services by 85.3% during the 2nd quarter. SRS Capital Advisors Inc. now owns 365 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 168 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in Discover Financial Services during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 81.74% of the company’s stock.

Discover Financial Services Trading Up 1.1 %

NYSE:DFS opened at $111.49 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.26 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $30.46 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41. The firm’s 50 day moving average is $103.38 and its 200 day moving average is $101.42. Discover Financial Services has a 12 month low of $87.64 and a 12 month high of $129.12.

Discover Financial Services (NYSE:DFSGet Rating) last posted its quarterly earnings results on Thursday, January 19th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.19. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Discover Financial Services had a net margin of 28.89% and a return on equity of 33.21%. Discover Financial Services’s revenue was up 27.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.64 EPS. Sell-side analysts expect that Discover Financial Services will post 14 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Thursday, February 23rd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, February 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.15%. Discover Financial Services’s dividend payout ratio (DPR) is presently 15.49%.

Insider Buying and Selling at Discover Financial Services

In other Discover Financial Services news, Director Michael H. Moskow sold 1,291 shares of the business’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $105.10, for a total transaction of $135,684.10. Following the sale, the director now owns 51,596 shares of the company’s stock, valued at approximately $5,422,739.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DFS shares. BMO Capital Markets cut their price target on Discover Financial Services from $119.00 to $111.00 and set a “market perform” rating for the company in a research note on Friday, January 20th. Credit Suisse Group dropped their target price on shares of Discover Financial Services from $123.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. UBS Group assumed coverage on shares of Discover Financial Services in a research report on Monday, November 21st. They set a “neutral” rating and a $120.00 target price on the stock. Barclays cut shares of Discover Financial Services from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $115.00 to $120.00 in a research report on Friday, January 6th. Finally, Bank of America cut shares of Discover Financial Services from a “buy” rating to an “underperform” rating in a research report on Tuesday, December 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $118.57.

Discover Financial Services Company Profile

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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 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.

Further Reading

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFSGet Rating).

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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