Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Lincoln National Co. (NYSE:LNC) by 2.5% during the 1st quarter, Holdings Channel reports. The firm owned 11,943 shares of the financial services provider’s stock after acquiring an additional 290 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Lincoln National were worth $701,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System lifted its position in Lincoln National by 4.0% during the first quarter. New York State Teachers Retirement System now owns 367,097 shares of the financial services provider’s stock valued at $21,549,000 after buying an additional 14,108 shares during the period. Tradition Capital Management LLC purchased a new position in Lincoln National during the first quarter valued at $3,583,000. Raymond James Financial Services Advisors Inc. lifted its position in Lincoln National by 15.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 53,249 shares of the financial services provider’s stock valued at $3,126,000 after buying an additional 7,102 shares during the period. Trillium Asset Management LLC lifted its position in Lincoln National by 246.8% during the first quarter. Trillium Asset Management LLC now owns 100,075 shares of the financial services provider’s stock valued at $5,874,000 after buying an additional 71,221 shares during the period. Finally, Dean Capital Investments Management LLC purchased a new position in Lincoln National during the first quarter valued at $826,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.
In other Lincoln National news, EVP Kenneth S. Solon sold 11,738 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $64.39, for a total value of $755,809.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary C. Kelly sold 17,040 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $66.63, for a total value of $1,135,375.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,041 shares of company stock valued at $2,339,312. 1.50% of the stock is owned by insiders.
LNC opened at $63.49 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $13.01 billion, a PE ratio of 7.49, a P/E/G ratio of 0.78 and a beta of 1.95. Lincoln National Co. has a 1 year low of $48.07 and a 1 year high of $71.27.
Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.25 billion. Lincoln National had a return on equity of 12.32% and a net margin of 9.02%. Lincoln National’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.97 EPS. Sell-side analysts forecast that Lincoln National Co. will post 9.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.33%. Lincoln National’s dividend payout ratio is presently 17.45%.
Several brokerages have commented on LNC. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Monday, May 20th. UBS Group raised their price objective on Lincoln National from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. set a $92.00 price objective on Lincoln National and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $75.85.
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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