Lincoln National Corporation (LNC) Shares Sold by Cornerstone Investment Partners LLC
Cornerstone Investment Partners LLC reduced its position in Lincoln National Corporation (NYSE:LNC) by 20.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 964,948 shares of the financial services provider’s stock after selling 245,146 shares during the quarter. Lincoln National Corporation makes up about 3.1% of Cornerstone Investment Partners LLC’s holdings, making the stock its 18th largest position. Cornerstone Investment Partners LLC owned about 0.44% of Lincoln National Corporation worth $70,904,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Sun Life Financial INC grew its holdings in shares of Lincoln National Corporation by 20,600.0% during the 2nd quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 1,648 shares during the period. D.A. Davidson & CO. grew its position in shares of Lincoln National Corporation by 8.6% during the second quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 136 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Lincoln National Corporation in the 2nd quarter valued at about $200,000. Financial Architects Inc lifted its stake in Lincoln National Corporation by 2.3% in the second quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 68 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. purchased a new position in shares of Lincoln National Corporation during the second quarter worth approximately $201,000. 79.84% of the stock is owned by institutional investors and hedge funds.
Shares of Lincoln National Corporation (LNC) traded down $0.10 during midday trading on Tuesday, hitting $74.18. 1,066,300 shares of the stock were exchanged, compared to its average volume of 1,490,656. The stock has a market capitalization of $16,240.00, a P/E ratio of 9.81, a PEG ratio of 1.12 and a beta of 2.03. Lincoln National Corporation has a 1-year low of $61.45 and a 1-year high of $77.46. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.30.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.19. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.62 billion. Lincoln National Corporation had a net margin of 10.50% and a return on equity of 11.16%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. analysts expect that Lincoln National Corporation will post 7.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.33 per share. This is a boost from Lincoln National Corporation’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, January 9th. Lincoln National Corporation’s payout ratio is presently 18.10%.
Several equities research analysts have recently commented on LNC shares. Morgan Stanley lifted their price objective on shares of Lincoln National Corporation from $77.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. B. Riley reiterated a “neutral” rating on shares of Lincoln National Corporation in a research report on Monday, November 6th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Lincoln National Corporation in a research report on Wednesday, October 18th. They issued a “sell” rating and a $71.00 price objective for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $83.00 price objective on shares of Lincoln National Corporation in a research note on Tuesday, October 10th. Finally, ValuEngine lowered shares of Lincoln National Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $77.00.
Lincoln National Corporation Company Profile
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.
Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Corporation (NYSE:LNC).
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.