Sit Investment Associates Inc. trimmed its position in Lincoln National Co. (NYSE:LNC) by 20.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 335,432 shares of the financial services provider’s stock after selling 86,000 shares during the period. Sit Investment Associates Inc. owned 0.16% of Lincoln National worth $17,211,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in Lincoln National by 59.7% in the third quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock worth $806,475,000 after purchasing an additional 4,457,743 shares in the last quarter. FMR LLC boosted its stake in Lincoln National by 0.3% in the third quarter. FMR LLC now owns 5,714,564 shares of the financial services provider’s stock valued at $386,648,000 after acquiring an additional 18,561 shares during the period. LSV Asset Management boosted its stake in Lincoln National by 0.3% in the third quarter. LSV Asset Management now owns 5,671,951 shares of the financial services provider’s stock valued at $383,764,000 after acquiring an additional 16,202 shares during the period. Lyrical Asset Management LP boosted its stake in Lincoln National by 5.1% in the third quarter. Lyrical Asset Management LP now owns 5,068,451 shares of the financial services provider’s stock valued at $342,931,000 after acquiring an additional 247,509 shares during the period. Finally, Millennium Management LLC boosted its stake in Lincoln National by 89.9% in the second quarter. Millennium Management LLC now owns 1,646,582 shares of the financial services provider’s stock valued at $102,500,000 after acquiring an additional 779,470 shares during the period. Institutional investors and hedge funds own 80.48% of the company’s stock.
In other news, EVP Jamie Ohl sold 2,152 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $58.00, for a total transaction of $124,816.00. Following the completion of the transaction, the executive vice president now directly owns 12,732 shares in the company, valued at $738,456. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.12% of the company’s stock.
LNC has been the subject of a number of research reports. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Monday, October 8th. UBS Group lifted their target price on Lincoln National from $73.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, October 8th. Bank of America decreased their target price on Lincoln National from $79.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Deutsche Bank decreased their target price on Lincoln National from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, November 5th. Finally, Morgan Stanley decreased their target price on Lincoln National from $76.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.69.
Shares of NYSE LNC traded up $0.74 during midday trading on Monday, hitting $55.98. 75,858 shares of the company’s stock were exchanged, compared to its average volume of 2,541,438. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.39. The company has a market cap of $11.64 billion, a PE ratio of 7.18 and a beta of 1.89. Lincoln National Co. has a twelve month low of $48.07 and a twelve month high of $86.68.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.17. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.25 billion. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The business’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.87 earnings per share. Sell-side analysts forecast that Lincoln National Co. will post 8.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This is an increase from Lincoln National’s previous quarterly dividend of $0.33. This represents a $1.48 annualized dividend and a dividend yield of 2.64%. Lincoln National’s payout ratio is currently 19.00%.
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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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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