Wells Fargo & Company MN lessened its holdings in Lincoln National Co. (NYSE:LNC) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,408,605 shares of the financial services provider’s stock after selling 3,634 shares during the quarter. Wells Fargo & Company MN owned approximately 0.64% of Lincoln National worth $103,506,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Lincoln National by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,649,087 shares of the financial services provider’s stock valued at $1,598,205,000 after acquiring an additional 764,714 shares during the last quarter. BlackRock Inc. grew its position in Lincoln National by 1.9% in the 2nd quarter. BlackRock Inc. now owns 18,774,399 shares of the financial services provider’s stock valued at $1,268,774,000 after acquiring an additional 355,633 shares during the last quarter. FMR LLC grew its position in Lincoln National by 1.3% in the 2nd quarter. FMR LLC now owns 7,470,115 shares of the financial services provider’s stock valued at $504,830,000 after acquiring an additional 95,605 shares during the last quarter. LSV Asset Management grew its position in Lincoln National by 3.8% in the 2nd quarter. LSV Asset Management now owns 5,157,271 shares of the financial services provider’s stock valued at $348,528,000 after acquiring an additional 187,800 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position 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 valued at $239,047,000 after acquiring an additional 857,436 shares during the last quarter. 80.44% of the stock is currently owned by institutional investors.
Several equities analysts have commented on LNC shares. BidaskClub downgraded Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Thursday, August 24th. Citigroup reaffirmed a “buy” rating and issued a $83.00 price objective (up previously from $82.00) on shares of Lincoln National in a research report on Thursday, September 14th. Royal Bank Of Canada reissued a “buy” rating and set a $83.00 price target on shares of Lincoln National in a research report on Tuesday, October 10th. Finally, ValuEngine downgraded Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Lincoln National has an average rating of “Hold” and an average price target of $78.40.
Lincoln National Co. (NYSE LNC) traded down $1.61 on Tuesday, hitting $75.89. The stock had a trading volume of 942,142 shares, compared to its average volume of 1,479,474. Lincoln National Co. has a fifty-two week low of $61.45 and a fifty-two week 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. The company has a market cap of $16,960.00, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.16 and a beta of 2.01.
Lincoln National (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 analysts’ consensus estimates of $1.84 by $0.19. Lincoln National had a return on equity of 11.16% and a net margin of 10.50%. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The business’s revenue was down .4% compared to the same quarter last year. equities analysts forecast that Lincoln National Co. will post 7.65 EPS for the current fiscal year.
The business 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 dividend of $0.33 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.74%. This is an increase from Lincoln National’s previous quarterly dividend of $0.29. Lincoln National’s dividend payout ratio (DPR) is presently 18.10%.
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Lincoln National 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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