Northpointe Capital LLC boosted its holdings in Lincoln National Co. (NYSE:LNC) by 1.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,896 shares of the financial services provider’s stock after purchasing an additional 547 shares during the quarter. Northpointe Capital LLC’s holdings in Lincoln National were worth $3,105,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in LNC. JPMorgan Chase & Co. grew its holdings in shares of Lincoln National by 59.7% during the third quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock valued at $806,475,000 after buying an additional 4,457,743 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Lincoln National by 5,290.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,956,873 shares of the financial services provider’s stock valued at $77,000 after buying an additional 3,883,468 shares during the last quarter. Norges Bank purchased a new stake in shares of Lincoln National during the fourth quarter valued at approximately $197,189,000. Millennium Management LLC grew its holdings in shares of Lincoln National by 148.9% during the fourth quarter. Millennium Management LLC now owns 1,180,277 shares of the financial services provider’s stock valued at $60,560,000 after buying an additional 706,124 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Lincoln National by 109.4% during the fourth quarter. Prudential Financial Inc. now owns 1,328,483 shares of the financial services provider’s stock valued at $68,165,000 after buying an additional 694,063 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company’s stock.
Lincoln National stock traded up $0.40 during midday trading on Wednesday, reaching $66.51. 368,965 shares of the company traded hands, compared to its average volume of 1,706,464. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 0.79 and a beta of 1.91. Lincoln National Co. has a 12 month low of $48.07 and a 12 month high of $74.17. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.41.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.02. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.22 billion. Lincoln National had a net margin of 9.92% and a return on equity of 12.41%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.98 earnings per share. Sell-side analysts expect that Lincoln National Co. will post 9.1 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.48 dividend on an annualized basis and a yield of 2.23%. Lincoln National’s dividend payout ratio (DPR) is 17.45%.
In related news, EVP Jamie Ohl sold 7,263 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $61.70, for a total transaction of $448,127.10. Following the transaction, the executive vice president now owns 23,159 shares in the company, valued at $1,428,910.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dennis R. Glass sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $60.49, for a total transaction of $604,900.00. The disclosure for this sale can be found here. 6.31% of the stock is owned by corporate insiders.
LNC has been the topic of a number of recent analyst reports. Wells Fargo & Co initiated coverage on shares of Lincoln National in a report on Tuesday, January 8th. They set a “market perform” rating and a $63.00 price target on the stock. Zacks Investment Research cut shares of Lincoln National from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. Finally, UBS Group increased their price target on shares of Lincoln National from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $73.08.
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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