Smith Graham & Co. Investment Advisors LP raised its position in Lincoln National Co. (NYSE:LNC) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,503 shares of the financial services provider’s stock after acquiring an additional 5,700 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in Lincoln National were worth $8,187,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC raised its stake in shares of Lincoln National by 3,936.0% in the second 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 during the period. Parametric Portfolio Associates LLC grew its holdings in Lincoln National by 90.5% during 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 buying an additional 530,618 shares in the last quarter. Cornerstone Investment Partners LLC grew its holdings in Lincoln National by 53.5% during the 4th quarter. Cornerstone Investment Partners LLC now owns 1,481,014 shares of the financial services provider’s stock valued at $113,846,000 after buying an additional 516,066 shares in the last quarter. Sit Investment Associates Inc. grew its holdings in Lincoln National by 473,333.3% during the 3rd quarter. Sit Investment Associates Inc. now owns 269,857 shares of the financial services provider’s stock valued at $19,829,000 after buying an additional 269,800 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Lincoln National by 97.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 432,387 shares of the financial services provider’s stock valued at $31,772,000 after buying an additional 213,512 shares in the last quarter. 80.50% of the stock is currently owned by institutional investors.
In related news, CEO Dennis R. Glass sold 102,367 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $84.71, for a total value of $8,671,508.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ellen Cooper sold 7,300 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $85.01, for a total value of $620,573.00. The disclosure for this sale can be found here. In the last three months, insiders sold 141,324 shares of company stock valued at $11,961,400. Insiders own 1.12% of the company’s stock.
Lincoln National Co. (NYSE LNC) traded up $2.96 during trading on Wednesday, reaching $77.30. The company’s stock had a trading volume of 1,974,699 shares, compared to its average volume of 1,605,858. The company has a current ratio of 0.10, a quick ratio of 0.11 and a debt-to-equity ratio of 0.28. The stock has a market cap of $16,270.00, a P/E ratio of 8.37, a PEG ratio of 1.10 and a beta of 1.96. Lincoln National Co. has a twelve month low of $61.45 and a twelve month high of $86.68.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.04. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. analysts expect that Lincoln National Co. will post 8.54 EPS for the current fiscal year.
Lincoln National announced that its board has approved a stock buyback program on Friday, January 19th that permits the company to buyback shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Several equities analysts have weighed in on LNC shares. Morgan Stanley raised their price target on Lincoln National from $77.00 to $79.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Deutsche Bank assumed coverage on Lincoln National in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $84.00 price objective for the company. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada reissued a “buy” rating and set a $86.00 price target on shares of Lincoln National in a research note on Friday, December 8th. Finally, B. Riley reissued a “neutral” rating on shares of Lincoln National in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Lincoln National has an average rating of “Buy” and a consensus price target of $83.27.
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Lincoln National 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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