JPMorgan Chase & Co. Cuts Holdings in Lincoln National Corporation (LNC)
JPMorgan Chase & Co. decreased its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 46.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,886,791 shares of the financial services provider’s stock after selling 1,650,454 shares during the period. JPMorgan Chase & Co. owned 0.86% of Lincoln National worth $138,358,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of LNC. Sun Life Financial INC increased its position in Lincoln National by 20,600.0% during the 2nd quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 1,648 shares during the period. D.A. Davidson & CO. grew its position in shares of Lincoln National by 8.6% in the 2nd quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock worth $116,000 after buying an additional 136 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of Lincoln National in the 2nd quarter worth approximately $200,000. Bowen Hanes & Co. Inc. purchased a new position in shares of Lincoln National in the 2nd quarter worth approximately $201,000. Finally, Homrich & Berg purchased a new position in shares of Lincoln National in the 2nd quarter worth approximately $204,000. 80.44% of the stock is currently owned by institutional investors and hedge funds.
LNC has been the topic of a number of analyst reports. BidaskClub downgraded shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research downgraded shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Morgan Stanley lifted their price objective on shares of Lincoln National from $77.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Citigroup reaffirmed a “buy” rating and issued a $83.00 price objective (up previously from $82.00) on shares of Lincoln National in a research report on Thursday, September 14th. Finally, Barclays lifted their price objective on shares of Lincoln National from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $78.40.
Shares of Lincoln National Corporation (NYSE:LNC) opened at $76.51 on Friday. The firm has a market cap of $16,742.61, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.16 and a beta of 2.02. Lincoln National Corporation has a 12-month low of $61.45 and a 12-month high of $77.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.11 and a current ratio of 0.11.
Lincoln National (NYSE:LNC) last released its earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.19. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.62 billion. Lincoln National had a net margin of 10.50% and a return on equity of 11.16%. Lincoln National’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. equities analysts expect that Lincoln National Corporation will post 7.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.73%. The ex-dividend date is Tuesday, January 9th. This is an increase from Lincoln National’s previous quarterly dividend of $0.29. Lincoln National’s payout ratio is currently 18.15%.
About Lincoln National
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
Receive News & Ratings for Lincoln National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.