LPL Financial LLC boosted its holdings in Lincoln National Co. (NYSE:LNC) by 43.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,548 shares of the financial services provider’s stock after purchasing an additional 8,613 shares during the quarter. LPL Financial LLC’s holdings in Lincoln National were worth $2,195,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in LNC. New York State Common Retirement Fund boosted its holdings in Lincoln National by 1.9% in the third quarter. New York State Common Retirement Fund now owns 690,836 shares of the financial services provider’s stock valued at $50,763,000 after purchasing an additional 13,057 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Lincoln National by 7.4% in the third quarter. Nordea Investment Management AB now owns 48,836 shares of the financial services provider’s stock valued at $3,588,000 after purchasing an additional 3,350 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Lincoln National by 8.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the financial services provider’s stock valued at $1,324,000 after purchasing an additional 1,354 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Lincoln National by 13.7% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 34,103 shares of the financial services provider’s stock valued at $2,506,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Tredje AP fonden boosted its holdings in Lincoln National by 22.0% in the third quarter. Tredje AP fonden now owns 27,792 shares of the financial services provider’s stock valued at $2,042,000 after purchasing an additional 5,020 shares in the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Randal J. Freitag sold 31,657 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $84.32, for a total transaction of $2,669,318.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ellen Cooper sold 7,300 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.01, for a total value of $620,573.00. The disclosure for this sale can be found here. Insiders have sold 167,736 shares of company stock valued at $14,032,099 in the last 90 days. Company insiders own 1.12% of the company’s stock.
Lincoln National (NYSE:LNC) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.04. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. sell-side analysts anticipate that Lincoln National Co. will post 8.52 earnings per share for the current year.
Lincoln National announced that its board has approved a stock buyback program on Friday, January 19th that authorizes the company to buyback shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Monday, April 9th. Lincoln National’s dividend payout ratio (DPR) is presently 16.94%.
A number of equities analysts recently issued reports on the company. Barclays reaffirmed a “buy” rating and issued a $90.00 price target on shares of Lincoln National in a report on Tuesday, January 9th. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $89.00 price objective on shares of Lincoln National in a research note on Friday, December 22nd. Royal Bank of Canada reiterated a “buy” rating and issued a $86.00 price objective on shares of Lincoln National in a research note on Friday, December 8th. Finally, JPMorgan Chase upgraded Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 price objective for the company in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $84.33.
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About Lincoln National
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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