Stifel Financial Corp lifted its stake in Lincoln National Co. (NYSE:LNC) by 6.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,467 shares of the financial services provider’s stock after purchasing an additional 2,649 shares during the quarter. Stifel Financial Corp’s holdings in Lincoln National were worth $3,119,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in LNC. Janus Henderson Group PLC raised its position in shares of Lincoln National by 3,936.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,196,540 shares of the financial services provider’s stock valued at $80,862,000 after purchasing an additional 1,166,893 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 857,436 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 764,714 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Lincoln National by 91.2% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 1,573,659 shares of the financial services provider’s stock valued at $106,347,000 after purchasing an additional 750,776 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Lincoln National by 90.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,117,085 shares of the financial services provider’s stock valued at $75,493,000 after purchasing an additional 530,618 shares during the last quarter. 80.32% of the stock is owned by hedge funds and other institutional investors.
LNC has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Lincoln National in a research report on Friday, December 8th. Citigroup reissued a “buy” rating and set a $83.00 price target (up from $82.00) on shares of Lincoln National in a research report on Thursday, September 14th. Zacks Investment Research raised shares of Lincoln National from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Thursday, September 21st. ValuEngine lowered shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, Deutsche Bank initiated coverage on shares of Lincoln National in a research report on Tuesday, January 2nd. They set a “buy” rating and a $84.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $83.27.
Shares of Lincoln National Co. (NYSE:LNC) traded up $1.11 during midday trading on Thursday, hitting $83.90. 1,238,400 shares of the stock were exchanged, compared to its average volume of 1,299,074. The firm has a market cap of $18,320.00, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.12 and a beta of 2.01. Lincoln National Co. has a twelve month low of $61.45 and a twelve month high of $84.09. 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 issued its quarterly earnings data 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 business 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 business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $1.89 EPS. equities analysts forecast that Lincoln National Co. will post 7.72 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.33 per share. This is a boost from Lincoln National’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.57%. Lincoln National’s dividend payout ratio (DPR) is presently 20.59%.
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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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