Advisor Group Inc. cut its stake in Lincoln National Co. (NYSE:LNC) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,201 shares of the financial services provider’s stock after selling 1,464 shares during the period. Advisor Group Inc.’s holdings in Lincoln National were worth $1,324,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of LNC. Cornerstone Investment Partners LLC raised its holdings in shares of Lincoln National by 53.5% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,481,014 shares of the financial services provider’s stock worth $113,846,000 after buying an additional 516,066 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Lincoln National by 30.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 896,252 shares of the financial services provider’s stock worth $68,895,000 after buying an additional 208,053 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Lincoln National by 16.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,323,021 shares of the financial services provider’s stock worth $101,701,000 after buying an additional 188,124 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Lincoln National by 17.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,213,557 shares of the financial services provider’s stock worth $93,286,000 after buying an additional 183,500 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Lincoln National by 706.1% in the 3rd quarter. Assetmark Inc. now owns 178,471 shares of the financial services provider’s stock worth $13,114,000 after buying an additional 156,330 shares in the last quarter. 82.33% of the stock is owned by institutional investors and hedge funds.
In other Lincoln National news, CEO Dennis R. Glass sold 102,367 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $84.71, for a total value of $8,671,508.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ellen Cooper sold 7,300 shares of the stock in a transaction on Friday, February 2nd. The shares were 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 sold a total of 167,736 shares of company stock worth $14,032,099 over the last quarter. Corporate insiders own 1.12% of the company’s stock.
Shares of LNC stock opened at $76.56 on Wednesday. The company has a market capitalization of $16,666.15, a P/E ratio of 8.29, a P/E/G ratio of 1.12 and a beta of 1.97. Lincoln National Co. has a 12-month low of $61.45 and a 12-month high of $86.68. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.28.
Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.04. The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.65 billion. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.77 EPS. analysts anticipate that Lincoln National Co. will post 8.5 earnings per share for the current year.
Lincoln National declared that its Board of Directors has approved a share buyback plan on Friday, January 19th that permits the company to repurchase outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a $0.33 dividend. The ex-dividend date is Monday, April 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.72%. Lincoln National’s payout ratio is 14.29%.
A number of equities analysts have recently issued reports on LNC shares. Barclays reissued a “buy” rating and issued a $90.00 target price on shares of Lincoln National in a report on Tuesday, January 9th. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Monday, January 8th. Deutsche Bank started coverage on Lincoln National in a research report on Tuesday, January 2nd. They set a “buy” rating and a $84.00 price target on the stock. Royal Bank of Canada restated a “buy” rating and set a $86.00 price target on shares of Lincoln National in a research report on Friday, December 8th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $89.00 price target on shares of Lincoln National in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $83.33.
Lincoln National Profile
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.
Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Co. (NYSE:LNC).
Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.