Russell Investments Group Ltd. Grows Stake in Lincoln National Corporation (LNC)
Russell Investments Group Ltd. grew its stake in shares of Lincoln National Corporation (NYSE:LNC) by 5.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 313,165 shares of the financial services provider’s stock after acquiring an additional 16,623 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Lincoln National worth $23,011,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Lincoln National by 32.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock worth $239,047,000 after buying an additional 857,436 shares during the period. Todd Asset Management LLC boosted its holdings in Lincoln National by 57.5% in the 2nd quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock worth $47,659,000 after buying an additional 257,581 shares during the period. Prudential Financial Inc. boosted its holdings in Lincoln National by 42.2% in the 2nd quarter. Prudential Financial Inc. now owns 961,078 shares of the financial services provider’s stock worth $64,950,000 after buying an additional 285,168 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Lincoln National by 84.2% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 544,208 shares of the financial services provider’s stock worth $36,777,000 after buying an additional 248,800 shares during the period. Finally, Homrich & Berg bought a new position in Lincoln National in the 2nd quarter worth approximately $204,000. 79.84% of the stock is owned by hedge funds and other institutional investors.
LNC has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Lincoln National from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Citigroup Inc. reiterated a “buy” rating and issued a $83.00 target price (up from $82.00) on shares of Lincoln National in a research note on Thursday, September 14th. Morgan Stanley increased their target price on shares of Lincoln National from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Finally, BidaskClub cut shares of Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $77.00.
Shares of Lincoln National Corporation (NYSE:LNC) opened at $73.14 on Friday. The firm has a market cap of $16,005.15, a price-to-earnings ratio of 9.66, a PEG ratio of 1.10 and a beta of 2.03. Lincoln National Corporation has a 52-week low of $61.45 and a 52-week 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 (NYSE:LNC) last issued its 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 company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Lincoln National had a net margin of 10.50% and a return on equity of 11.16%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 EPS. sell-side analysts expect that Lincoln National Corporation will post 7.65 earnings per share for the current year.
The firm also recently announced 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. This represents a $1.32 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.29. Lincoln National’s dividend payout ratio (DPR) is presently 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.
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