Steward Partners Investment Advisory LLC bought a new stake in shares of Lincoln National Co. (NYSE:LNC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,327 shares of the financial services provider’s stock, valued at approximately $979,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Lincoln National by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,649,087 shares of the financial services provider’s stock valued at $1,598,205,000 after acquiring an additional 764,714 shares during the period. BlackRock Inc. lifted its position in Lincoln National by 1.9% during the 2nd quarter. BlackRock Inc. now owns 18,774,399 shares of the financial services provider’s stock valued at $1,268,774,000 after acquiring an additional 355,633 shares during the period. FMR LLC lifted its position in Lincoln National by 1.3% during the 2nd quarter. FMR LLC now owns 7,470,115 shares of the financial services provider’s stock valued at $504,830,000 after acquiring an additional 95,605 shares during the period. LSV Asset Management lifted its position in Lincoln National by 3.8% during the 2nd quarter. LSV Asset Management now owns 5,157,271 shares of the financial services provider’s stock valued at $348,528,000 after acquiring an additional 187,800 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Lincoln National by 32.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after acquiring an additional 857,436 shares during the period. 80.44% of the stock is currently owned by hedge funds and other institutional investors.
Lincoln National Co. (LNC) opened at $76.19 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $16,565.38, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.14 and a beta of 2.01. Lincoln National Co. has a twelve month low of $61.45 and a twelve month high of $78.74.
Lincoln National (NYSE:LNC) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.19. The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Lincoln National had a net margin of 10.50% and a return on equity of 11.16%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. sell-side analysts predict that Lincoln National Co. will post 7.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a yield of 1.73%. Lincoln National’s payout ratio is 18.15%.
LNC has been the subject of a number of recent research reports. BidaskClub cut shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Zacks Investment Research cut shares of Lincoln National from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Citigroup reaffirmed a “buy” rating and issued a $83.00 target price (up from $82.00) on shares of Lincoln National in a report on Thursday, September 14th. Finally, Morgan Stanley lifted their target price on shares of Lincoln National from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $78.70.
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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.
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