Chartwell Investment Partners LLC Has $14.35 Million Stake in Lincoln National Co. (LNC)
Chartwell Investment Partners LLC increased its position in Lincoln National Co. (NYSE:LNC) by 327.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,475 shares of the financial services provider’s stock after buying an additional 187,256 shares during the period. Chartwell Investment Partners LLC owned about 0.12% of Lincoln National worth $14,351,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of LNC. Proficio Capital Partners LLC increased its position in Lincoln National by 169.6% during the fourth quarter. Proficio Capital Partners LLC now owns 585 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 368 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in Lincoln National by 718.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 753 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 661 shares during the last quarter. Lindbrook Capital LLC acquired a new position in Lincoln National during the fourth quarter worth approximately $44,000. Arlington Partners LLC acquired a new position in Lincoln National during the fourth quarter worth approximately $47,000. Finally, JOYN Advisors Inc. increased its position in Lincoln National by 24.6% during the fourth quarter. JOYN Advisors Inc. now owns 937 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 185 shares during the last quarter. 84.13% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Monday, December 31st. Wells Fargo & Co assumed coverage on shares of Lincoln National in a research note on Tuesday, January 8th. They set a “market perform” rating and a $63.00 price objective for the company. UBS Group boosted their price objective on shares of Lincoln National from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $73.08.
Lincoln National (NYSE:LNC) last announced its earnings results on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.02. The business had revenue of $4.39 billion during 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 business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.98 earnings per share. Equities research analysts predict that Lincoln National Co. will post 9.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.48 annualized dividend and a dividend yield of 2.32%. Lincoln National’s dividend payout ratio (DPR) is presently 17.45%.
In related news, EVP Jamie Ohl sold 7,263 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $61.70, for a total value of $448,127.10. Following the sale, the executive vice president now directly owns 23,159 shares of the company’s stock, valued at $1,428,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dennis R. Glass sold 10,000 shares of the company’s stock in a transaction 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 currently owned by corporate insiders.
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Lincoln National 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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