Advisors Capital Management LLC cut its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,174 shares of the financial services provider’s stock after selling 8,007 shares during the period. Advisors Capital Management LLC’s holdings in Lincoln National Corporation were worth $5,156,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in shares of Lincoln National Corporation in the third quarter valued at $580,000. Denali Advisors LLC increased its holdings in shares of Lincoln National Corporation by 155.1% in the third quarter. Denali Advisors LLC now owns 172,700 shares of the financial services provider’s stock valued at $12,690,000 after buying an additional 105,000 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Lincoln National Corporation by 5.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 589,004 shares of the financial services provider’s stock valued at $43,281,000 after buying an additional 30,184 shares in the last quarter. PGGM Investments increased its holdings in shares of Lincoln National Corporation by 2.3% in the third quarter. PGGM Investments now owns 158,924 shares of the financial services provider’s stock valued at $11,678,000 after buying an additional 3,585 shares in the last quarter. Finally, Shell Asset Management Co. increased its holdings in shares of Lincoln National Corporation by 198.8% in the third quarter. Shell Asset Management Co. now owns 40,415 shares of the financial services provider’s stock valued at $2,165,000 after buying an additional 26,889 shares in the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts have issued reports on LNC shares. BidaskClub downgraded shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Royal Bank of Canada boosted their price target on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, August 8th. Finally, Barclays PLC upped their price objective on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Lincoln National Corporation presently has an average rating of “Hold” and an average target price of $76.70.
Lincoln National Corporation (NYSE:LNC) traded down $0.84 during trading hours on Friday, reaching $73.49. 1,112,100 shares of the company traded hands, compared to its average volume of 1,498,290. Lincoln National Corporation has a 52-week low of $58.14 and a 52-week high of $77.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $16,265.59, a price-to-earnings ratio of 9.82, a PEG ratio of 1.12 and a beta of 2.03.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.19. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $1.89 earnings per share. equities research analysts expect that Lincoln National Corporation will post 7.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.80%. This is a boost from Lincoln National Corporation’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, January 9th. Lincoln National Corporation’s dividend payout ratio is currently 18.15%.
About Lincoln National Corporation
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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