Allianz Asset Management GmbH lowered its holdings in shares of Lincoln National Co. (NYSE:LNC) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,473,435 shares of the financial services provider’s stock after selling 16,373 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.67% of Lincoln National worth $108,268,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LNC. Sun Life Financial INC increased its position in shares of Lincoln National by 20,600.0% during the 2nd quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 1,648 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Lincoln National by 8.6% during the 2nd 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 during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of Lincoln National during the 2nd quarter valued at about $200,000. Bowen Hanes & Co. Inc. purchased a new stake in shares of Lincoln National during the 2nd quarter valued at about $201,000. Finally, Homrich & Berg purchased a new stake in shares of Lincoln National during the 2nd quarter valued at about $204,000. 80.44% of the stock is owned by hedge funds and other institutional investors.
Lincoln National Co. (NYSE:LNC) traded down $1.61 during trading on Tuesday, reaching $75.89. 942,142 shares of the company traded hands, compared to its average volume of 1,479,474. The stock has a market cap of $16,960.00, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.16 and a beta of 2.01. Lincoln National Co. has a one year low of $61.45 and a one year high of $78.44. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.30.
Lincoln National (NYSE:LNC) last released its 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 company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.62 billion. Lincoln National had a net margin of 10.50% and a return on equity of 11.16%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. analysts predict that Lincoln National Co. 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. Investors of record on Wednesday, January 10th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.74%. This is a positive change from Lincoln National’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, January 9th. Lincoln National’s dividend payout ratio is currently 18.10%.
Several research firms have recently commented on LNC. Wells Fargo & Company set a $80.00 price target on shares of Lincoln National and gave the company a “hold” rating in a research report on Thursday, November 16th. ValuEngine lowered shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. B. Riley reaffirmed a “neutral” rating on shares of Lincoln National in a research report on Monday, November 6th. Morgan Stanley upped their price target on shares of Lincoln National from $77.00 to $79.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Finally, Goldman Sachs Group assumed coverage on shares of Lincoln National in a research report on Wednesday, October 18th. They set a “sell” rating and a $71.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $78.40.
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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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