South Dakota Investment Council Holds Stake in Lincoln National Corporation (LNC)
South Dakota Investment Council continued to hold its position in Lincoln National Corporation (NYSE:LNC) during the first quarter, according to its most recent filing with the SEC. The firm owned 169,752 shares of the financial services provider’s stock at the end of the first quarter. South Dakota Investment Council owned about 0.08% of Lincoln National Corporation worth $11,110,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Bayesian Capital Management LP acquired a new position in Lincoln National Corporation during the fourth quarter valued at about $1,624,000. Tyers Asset Management LLC acquired a new position in Lincoln National Corporation during the fourth quarter valued at about $7,142,000. Scotia Capital Inc. raised its position in Lincoln National Corporation by 3.5% in the fourth quarter. Scotia Capital Inc. now owns 25,397 shares of the financial services provider’s stock valued at $1,685,000 after buying an additional 869 shares during the last quarter. Franklin Resources Inc. raised its position in Lincoln National Corporation by 34.5% in the fourth quarter. Franklin Resources Inc. now owns 73,938 shares of the financial services provider’s stock valued at $4,899,000 after buying an additional 18,980 shares during the last quarter. Finally, New Century Investment Management Inc. acquired a new position in Lincoln National Corporation during the fourth quarter valued at about $1,352,000. Hedge funds and other institutional investors own 80.19% of the company’s stock.
Lincoln National Corporation (NYSE:LNC) traded up 0.01% during midday trading on Friday, reaching $68.04. 1,466,720 shares of the company’s stock were exchanged. Lincoln National Corporation has a 12-month low of $35.27 and a 12-month high of $73.31. The stock has a market capitalization of $15.26 billion, a price-to-earnings ratio of 11.16 and a beta of 1.97. The stock’s 50-day moving average is $66.50 and its 200-day moving average is $67.18.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.30. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Lincoln National Corporation had a net margin of 10.43% and a return on equity of 10.70%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. On average, equities analysts forecast that Lincoln National Corporation will post $7.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.70%. Lincoln National Corporation’s dividend payout ratio is currently 19.14%.
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A number of equities analysts recently weighed in on LNC shares. Bank of America Corporation upgraded shares of Lincoln National Corporation from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Thursday, April 6th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Monday, June 5th. BidaskClub upgraded shares of Lincoln National Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, June 8th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $75.00 price objective on shares of Lincoln National Corporation in a report on Tuesday, March 21st. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $67.75.
In other Lincoln National Corporation news, Director Michael F. Mee sold 13,574 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $68.62, for a total value of $931,447.88. Following the completion of the transaction, the director now owns 6,336 shares of the company’s stock, valued at $434,776.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Isaiah Tidwell sold 13,946 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $65.04, for a total transaction of $907,047.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,693 shares of company stock valued at $3,899,915. Corporate insiders own 1.41% of the company’s stock.
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.
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