US Bancorp DE decreased its holdings in Lincoln National Co. (NYSE:LNC) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 261,404 shares of the financial services provider’s stock after selling 5,731 shares during the quarter. US Bancorp DE owned 0.12% of Lincoln National worth $20,094,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Thrivent Financial For Lutherans lifted its position in shares of Lincoln National by 2.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 8,514 shares of the financial services provider’s stock worth $575,000 after buying an additional 230 shares in the last quarter. D.A. Davidson & CO. lifted 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 worth $116,000 after buying an additional 136 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Lincoln National by 11.8% during the 2nd quarter. HighTower Advisors LLC now owns 12,064 shares of the financial services provider’s stock worth $814,000 after buying an additional 1,270 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Lincoln National by 3,936.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,196,540 shares of the financial services provider’s stock worth $80,862,000 after buying an additional 1,166,893 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Lincoln National by 258.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 33,723 shares of the financial services provider’s stock worth $2,279,000 after buying an additional 24,323 shares in the last quarter. 80.50% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Ellen Cooper sold 7,300 shares of Lincoln National stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $85.01, for a total value of $620,573.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Randal J. Freitag sold 31,657 shares of Lincoln National stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $84.32, for a total transaction of $2,669,318.24. The disclosure for this sale can be found here. Insiders sold a total of 141,324 shares of company stock valued at $11,961,400 over the last quarter. 1.12% of the stock is owned by company insiders.
Several research firms have commented on LNC. ValuEngine cut shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. B. Riley reissued a “neutral” rating on shares of Lincoln National in a research report on Monday, November 6th. Goldman Sachs Group began coverage on shares of Lincoln National in a research report on Wednesday, October 18th. They set a “sell” rating and a $71.00 target price on the stock. Zacks Investment Research cut shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 target price on the stock in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $83.27.
Shares of Lincoln National Co. (LNC) traded down $0.90 during mid-day trading on Tuesday, hitting $74.57. 301,224 shares of the stock traded hands, compared to its average volume of 1,530,398. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.11 and a current ratio of 0.10. Lincoln National Co. has a 12 month low of $61.45 and a 12 month high of $86.68. The stock has a market cap of $16,495.36, a price-to-earnings ratio of 8.17, a P/E/G ratio of 1.10 and a beta of 1.96.
Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.04. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the business posted $1.77 EPS. Lincoln National’s quarterly revenue was up 7.3% compared to the same quarter last year. equities research analysts anticipate that Lincoln National Co. will post 8.54 earnings per share for the current fiscal year.
Lincoln National declared that its board has authorized a share repurchase plan on Friday, January 19th that allows the company to repurchase shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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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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