Holderness Investments Co. Reduces Position in Lincoln National Co. (NYSE:LNC)

Holderness Investments Co. lowered its stake in Lincoln National Co. (NYSE:LNC) by 1.8% during the 1st quarter, Holdings Channel reports. The firm owned 20,415 shares of the financial services provider’s stock after selling 377 shares during the period. Holderness Investments Co.’s holdings in Lincoln National were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of LNC. Norges Bank purchased a new stake in Lincoln National in the fourth quarter worth approximately $197,189,000. Millennium Management LLC boosted its holdings in Lincoln National by 148.9% in the fourth quarter. Millennium Management LLC now owns 1,180,277 shares of the financial services provider’s stock worth $60,560,000 after purchasing an additional 706,124 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Lincoln National by 109.4% in the fourth quarter. Prudential Financial Inc. now owns 1,328,483 shares of the financial services provider’s stock worth $68,165,000 after purchasing an additional 694,063 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Lincoln National by 47.4% in the fourth quarter. Acadian Asset Management LLC now owns 1,714,824 shares of the financial services provider’s stock worth $87,992,000 after purchasing an additional 551,058 shares during the last quarter. Finally, Investec Asset Management LTD raised its position in Lincoln National by 50.0% in the fourth quarter. Investec Asset Management LTD now owns 1,189,032 shares of the financial services provider’s stock worth $61,009,000 after acquiring an additional 396,228 shares during the period. Institutional investors own 80.57% of the company’s stock.

Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. JPMorgan Chase & Co. set a $92.00 price target on shares of Lincoln National and gave the stock a “buy” rating in a research report on Thursday, May 2nd. UBS Group increased their price target on shares of Lincoln National from $67.00 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Lincoln National currently has an average rating of “Hold” and a consensus target price of $75.85.

In other news, EVP Kenneth S. Solon sold 11,738 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $64.39, for a total transaction of $755,809.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary C. Kelly sold 17,040 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $66.63, for a total transaction of $1,135,375.20. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

LNC opened at $63.48 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.19 and a current ratio of 0.19. Lincoln National Co. has a 1-year low of $48.07 and a 1-year high of $71.27. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 7.49, a price-to-earnings-growth ratio of 0.76 and a beta of 1.93.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $2.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.08 by $0.06. The firm had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.25 billion. Lincoln National had a net margin of 9.02% and a return on equity of 12.32%. The company’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm earned $1.97 EPS. On average, equities analysts anticipate that Lincoln National Co. will post 9.29 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.48 annualized dividend and a dividend yield of 2.33%. Lincoln National’s payout ratio is 17.45%.

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About Lincoln National

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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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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