Robeco Institutional Asset Management B.V. grew its position in shares of Lincoln National Corporation (NYSE:LNC – Free Report) by 73.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,680 shares of the financial services provider’s stock after buying an additional 113,243 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.14% of Lincoln National worth $10,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in LNC. Wealthstar Advisors LLC bought a new stake in Lincoln National in the first quarter worth approximately $1,183,000. State Street Corp raised its holdings in shares of Lincoln National by 3.6% during the 2nd quarter. State Street Corp now owns 6,106,302 shares of the financial services provider’s stock valued at $215,858,000 after purchasing an additional 215,007 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of Lincoln National by 557.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 158,004 shares of the financial services provider’s stock valued at $5,585,000 after purchasing an additional 133,973 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Lincoln National during the 2nd quarter valued at $63,112,000. Finally, Sei Investments Co. lifted its stake in shares of Lincoln National by 9.5% in the 1st quarter. Sei Investments Co. now owns 522,832 shares of the financial services provider’s stock valued at $18,561,000 after purchasing an additional 45,549 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Gary C. Kelly sold 15,007 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total value of $397,685.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sean Woodroffe sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $45.28, for a total value of $498,080.00. Following the completion of the sale, the executive vice president directly owned 119,947 shares in the company, valued at approximately $5,431,200.16. This represents a 8.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.03% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Lincoln National from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Barclays increased their target price on shares of Lincoln National from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. National Bank Financial set a $49.00 target price on Lincoln National in a report on Wednesday, October 7th. Bank of America reaffirmed a “neutral” rating and issued a $47.00 price target on shares of Lincoln National in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. decreased their price target on Lincoln National from $49.00 to $47.00 and set an “underweight” rating for the company in a research note on Thursday, October 15th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.67.
Check Out Our Latest Stock Report on LNC
Lincoln National Trading Down 3.0%
NYSE:LNC opened at $39.86 on Friday. Lincoln National Corporation has a 12 month low of $32.18 and a 12 month high of $47.67. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 3.45, a P/E/G ratio of 1.34 and a beta of 1.16. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $42.05 and its 200-day moving average is $39.55.
Lincoln National (NYSE:LNC – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The business had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the company earned $2.36 earnings per share. Lincoln National’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts anticipate that Lincoln National Corporation will post 7.94 EPS for the current year.
Lincoln National Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, October 9th. Lincoln National’s dividend payout ratio (DPR) is 15.60%.
Lincoln National Profile
Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement products primarily in the United States. Its businesses are designed to help individuals, employers and institutions manage financial protection, income and long-term savings needs.
The company offers life insurance and annuities, including products intended to provide death-benefit protection, retirement income and asset accumulation. Through its group protection business, Lincoln also provides employer-sponsored disability, dental, vision and leave-management solutions, as well as related workplace benefits and services.
Lincoln traces its history to the founding of The Lincoln National Life Insurance Company in Fort Wayne, Indiana, in 1905.
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