Lincoln National Corp Acquires 1,485 Shares of Discover Financial Services (NYSE:DFS)

Lincoln National Corp increased its holdings in shares of Discover Financial Services (NYSE:DFS) by 16.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,338 shares of the financial services provider’s stock after acquiring an additional 1,485 shares during the period. Lincoln National Corp’s holdings in Discover Financial Services were worth $1,162,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DFS. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $31,000. Metis Global Partners LLC grew its position in shares of Discover Financial Services by 8.1% during the 4th quarter. Metis Global Partners LLC now owns 13,839 shares of the financial services provider’s stock worth $1,556,000 after buying an additional 1,041 shares in the last quarter. Todd Asset Management LLC bought a new position in shares of Discover Financial Services during the 4th quarter worth $24,852,000. M&T Bank Corp increased its stake in shares of Discover Financial Services by 7.7% during the fourth quarter. M&T Bank Corp now owns 34,158 shares of the financial services provider’s stock valued at $3,839,000 after buying an additional 2,442 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Discover Financial Services by 34.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 9,755 shares of the financial services provider’s stock valued at $1,097,000 after acquiring an additional 2,513 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on DFS shares. Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. upped their target price on Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Morgan Stanley upgraded Discover Financial Services from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $105.00 to $133.00 in a report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a research note on Friday, January 19th. Finally, Jefferies Financial Group lifted their target price on Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Trading Down 0.0 %

Shares of NYSE:DFS opened at $123.60 on Thursday. The company has a market capitalization of $30.97 billion, a PE ratio of 14.09, a PEG ratio of 0.72 and a beta of 1.43. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The business has a 50 day moving average of $124.50 and a two-hundred day moving average of $109.29. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same period in the previous year, the firm posted $3.58 EPS. As a group, analysts forecast that Discover Financial Services will post 11.86 EPS for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a yield of 2.27%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

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; 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.