Texas Permanent School Fund lowered its holdings in Lincoln National Co. (NYSE:LNC) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,290 shares of the financial services provider’s stock after selling 1,732 shares during the period. Texas Permanent School Fund’s holdings in Lincoln National were worth $2,249,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Rational Advisors LLC grew its position in shares of Lincoln National by 225.0% in the second quarter. Rational Advisors LLC now owns 442 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 306 shares during the period. Horan Capital Advisors LLC. purchased a new stake in Lincoln National during the third quarter valued at about $35,000. Reilly Financial Advisors LLC purchased a new stake in Lincoln National during the third quarter valued at about $36,000. Meeder Asset Management Inc. purchased a new stake in Lincoln National during the second quarter valued at about $39,000. Finally, Quest Capital Management Inc. ADV purchased a new stake in Lincoln National during the third quarter valued at about $43,000. 80.79% of the stock is owned by institutional investors and hedge funds.
LNC has been the subject of a number of research reports. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley lowered their price target on Lincoln National from $76.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. TheStreet downgraded Lincoln National from a “b-” rating to a “c” rating in a research report on Wednesday, October 30th. Citigroup lowered their price target on Lincoln National from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, UBS Group boosted their price target on Lincoln National from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Lincoln National presently has an average rating of “Hold” and a consensus price target of $72.00.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of $2.41 by ($2.66). The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.47 billion. Lincoln National had a return on equity of 10.64% and a net margin of 4.82%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 EPS. On average, research analysts anticipate that Lincoln National Co. will post 7.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.37. Lincoln National’s payout ratio is currently 17.45%.
Lincoln National Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.
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