Magnetar Financial LLC Takes $711,000 Position in Lincoln National Co. (LNC)
Magnetar Financial LLC acquired a new position in shares of Lincoln National Co. (NYSE:LNC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,677 shares of the financial services provider’s stock, valued at approximately $711,000.
A number of other large investors have also recently made changes to their positions in the business. Asset Management One Co. Ltd. raised its holdings in Lincoln National by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 355,933 shares of the financial services provider’s stock worth $26,151,000 after purchasing an additional 1,873 shares during the last quarter. AMP Capital Investors Ltd grew its position in shares of Lincoln National by 34.9% during the 3rd quarter. AMP Capital Investors Ltd now owns 169,776 shares of the financial services provider’s stock worth $12,474,000 after buying an additional 43,928 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Lincoln National by 7.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 32,852 shares of the financial services provider’s stock worth $2,414,000 after buying an additional 2,224 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Lincoln National by 1.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 53,501 shares of the financial services provider’s stock worth $3,948,000 after buying an additional 1,000 shares during the period. Finally, Synovus Financial Corp grew its position in shares of Lincoln National by 28.1% during the 3rd quarter. Synovus Financial Corp now owns 15,125 shares of the financial services provider’s stock worth $1,107,000 after buying an additional 3,322 shares during the period. 80.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Lincoln National Co. (LNC) traded down $1.37 on Tuesday, hitting $77.17. The company had a trading volume of 1,221,500 shares, compared to its average volume of 1,476,243. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. Lincoln National Co. has a 1-year low of $61.45 and a 1-year high of $78.74. The firm has a market cap of $17,186.86, a price-to-earnings ratio of 10.38, a PEG ratio of 1.18 and a beta of 2.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a $0.33 dividend. The ex-dividend date is Tuesday, January 9th. This is a positive change from Lincoln National’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 1.71%. Lincoln National’s payout ratio is currently 18.15%.
Several equities analysts have recently issued reports on the company. Royal Bank of Canada restated a “buy” rating and set a $86.00 target price on shares of Lincoln National in a research report on Friday. Wells Fargo & Company set a $80.00 target price on Lincoln National and gave the stock a “hold” rating in a research report on Thursday, November 16th. ValuEngine lowered Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. B. Riley restated a “neutral” rating on shares of Lincoln National in a research report on Monday, November 6th. Finally, Morgan Stanley boosted their target price on Lincoln National from $77.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $78.70.
Lincoln National 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.
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