Lincoln National Co. (NYSE:LNC) Stake Lifted by Northern Trust Corp
Northern Trust Corp boosted its stake in Lincoln National Co. (NYSE:LNC) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,873,883 shares of the financial services provider’s stock after buying an additional 11,979 shares during the period. Northern Trust Corp owned 1.44% of Lincoln National worth $185,222,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Lincoln National by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,216,834 shares of the financial services provider’s stock worth $113,748,000 after acquiring an additional 57,696 shares in the last quarter. Geode Capital Management LLC raised its holdings in Lincoln National by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,898,554 shares of the financial services provider’s stock worth $148,472,000 after buying an additional 197,294 shares during the period. Janus Henderson Group PLC raised its holdings in Lincoln National by 61.7% during the 1st quarter. Janus Henderson Group PLC now owns 89,749 shares of the financial services provider’s stock worth $5,268,000 after buying an additional 34,242 shares during the period. Nissay Asset Management Corp Japan ADV lifted its stake in Lincoln National by 2.3% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 18,722 shares of the financial services provider’s stock valued at $1,099,000 after buying an additional 421 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in Lincoln National by 41.9% during the first quarter. Toronto Dominion Bank now owns 168,043 shares of the financial services provider’s stock valued at $9,862,000 after buying an additional 49,584 shares in the last quarter. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on LNC. Barclays set a $69.00 target price on shares of Lincoln National and gave the stock a “buy” rating in a research report on Monday, August 12th. ValuEngine downgraded shares of Lincoln National from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Morgan Stanley decreased their price objective on shares of Lincoln National from $76.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 20th. Zacks Investment Research cut shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Wells Fargo & Co reissued a “hold” rating and set a $69.00 target price on shares of Lincoln National in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $75.10.
NYSE LNC traded down $0.16 during trading on Wednesday, reaching $59.42. 106,686 shares of the company’s stock were exchanged, compared to its average volume of 1,405,148. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.30. Lincoln National Co. has a fifty-two week low of $48.07 and a fifty-two week high of $71.27. The company’s fifty day simple moving average is $56.73 and its 200-day simple moving average is $61.82. The firm has a market capitalization of $11.86 billion, a PE ratio of 6.99, a P/E/G ratio of 0.69 and a beta of 1.97.
Lincoln National (NYSE:LNC) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.04. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.46 billion. Lincoln National had a return on equity of 11.85% and a net margin of 8.74%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS. Equities analysts forecast that Lincoln National Co. will post 9.3 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, October 9th. Lincoln National’s payout ratio is presently 17.45%.
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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