Signaturefd LLC increased its holdings in Lincoln National Co. (NYSE:LNC) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,359 shares of the financial services provider’s stock after acquiring an additional 884 shares during the quarter. Signaturefd LLC’s holdings in Lincoln National were worth $521,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in LNC. Louisiana State Employees Retirement System lifted its stake in shares of Lincoln National by 22.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the financial services provider’s stock worth $569,000 after acquiring an additional 2,100 shares in the last quarter. Sowell Financial Services LLC lifted its stake in shares of Lincoln National by 213.8% in the fourth quarter. Sowell Financial Services LLC now owns 3,135 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 2,136 shares in the last quarter. Redpoint Investment Management Pty Ltd acquired a new position in shares of Lincoln National in the fourth quarter worth about $212,000. IFM Investors Pty Ltd raised its stake in Lincoln National by 14.8% during the fourth quarter. IFM Investors Pty Ltd now owns 18,559 shares of the financial services provider’s stock valued at $934,000 after buying an additional 2,396 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new position in Lincoln National during the 4th quarter worth approximately $298,000. Institutional investors and hedge funds own 76.74% of the company’s stock.
Shares of Lincoln National stock opened at $66.69 on Thursday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $63.96 and its two-hundred day moving average price is $53.69. Lincoln National Co. has a 52 week low of $28.53 and a 52 week high of $71.19. The stock has a market cap of $12.70 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.32 and a beta of 2.26.
The business also recently declared a quarterly dividend, which was paid on Monday, May 3rd. Investors of record on Monday, April 12th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 9th. This represents a $1.68 dividend on an annualized basis and a yield of 2.52%. Lincoln National’s dividend payout ratio is currently 19.31%.
In related news, CAO Christine A. Janofsky sold 7,413 shares of Lincoln National stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $56.25, for a total value of $416,981.25. Following the transaction, the chief accounting officer now owns 14,216 shares of the company’s stock, valued at approximately $799,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.
A number of research analysts have commented on LNC shares. Royal Bank of Canada increased their target price on Lincoln National from $59.00 to $69.00 and gave the stock a “sector perform” rating in a report on Friday, May 7th. Zacks Investment Research raised Lincoln National from a “sell” rating to a “hold” rating and set a $66.00 target price on the stock in a report on Tuesday, April 6th. Citigroup increased their target price on Lincoln National from $57.00 to $67.00 in a report on Wednesday, March 31st. UBS Group initiated coverage on Lincoln National in a report on Monday, April 26th. They set a “neutral” rating and a $67.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on Lincoln National from $63.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, April 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.86.
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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