Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Lincoln National Co. (NYSE:LNC) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 57,075 shares of the financial services provider’s stock, valued at approximately $3,350,000.
Several other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in shares of Lincoln National by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 9,559 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 168 shares during the last quarter. JOYN Advisors Inc. lifted its stake in shares of Lincoln National by 24.6% in the 4th quarter. JOYN Advisors Inc. now owns 937 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 185 shares during the last quarter. Wetherby Asset Management Inc. lifted its stake in shares of Lincoln National by 2.9% in the 4th quarter. Wetherby Asset Management Inc. now owns 6,804 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 189 shares during the last quarter. Comerica Bank lifted its stake in shares of Lincoln National by 0.5% in the 4th quarter. Comerica Bank now owns 42,625 shares of the financial services provider’s stock valued at $2,477,000 after purchasing an additional 192 shares during the last quarter. Finally, Gemmer Asset Management LLC lifted its stake in shares of Lincoln National by 89.7% in the 1st quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. 80.65% of the stock is currently owned by institutional investors and hedge funds.
LNC stock opened at $63.49 on Monday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $12.85 billion, a P/E ratio of 7.34, a PEG ratio of 0.76 and a beta of 1.95. Lincoln National Co. has a 12-month low of $48.07 and a 12-month high of $71.27.
Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share (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 return on equity of 12.32% and a net margin of 9.02%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.97 EPS. On average, research analysts expect 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. Investors of record on Wednesday, July 10th will be issued 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%.
In other Lincoln National news, Director Gary C. Kelly sold 17,040 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $66.63, for a total transaction of $1,135,375.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kenneth S. Solon sold 11,738 shares of the company’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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,041 shares of company stock worth $2,339,312. 1.50% of the stock is owned by company insiders.
LNC has been the topic of several recent analyst reports. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. UBS Group boosted their price objective on Lincoln National from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. set a $92.00 price objective on Lincoln National and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $75.85.
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Lincoln National Company 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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