The Manufacturers Life Insurance Company increased its stake in Lincoln National Co. (NYSE:LNC) by 30.2% in the 4th quarter, HoldingsChannel reports. The fund owned 896,252 shares of the financial services provider’s stock after acquiring an additional 208,053 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Lincoln National were worth $68,895,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Merchants Corp purchased a new position in Lincoln National in the third quarter worth about $735,000. Csenge Advisory Group purchased a new position in Lincoln National in the third quarter worth about $272,000. Twin Capital Management Inc. grew its position in Lincoln National by 8.5% in the third quarter. Twin Capital Management Inc. now owns 201,505 shares of the financial services provider’s stock worth $14,806,000 after acquiring an additional 15,803 shares in the last quarter. Denali Advisors LLC boosted its position in shares of Lincoln National by 155.1% during the third quarter. Denali Advisors LLC now owns 172,700 shares of the financial services provider’s stock valued at $12,690,000 after buying an additional 105,000 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of Lincoln National by 7.3% during the third quarter. State of Wisconsin Investment Board now owns 299,244 shares of the financial services provider’s stock valued at $21,988,000 after buying an additional 20,239 shares during the period. Institutional investors own 80.50% of the company’s stock.
Shares of Lincoln National Co. (LNC) opened at $77.58 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.10 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $16,976.75, a P/E ratio of 9.97, a P/E/G ratio of 1.14 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 announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.04. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.65 billion. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. Lincoln National’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 earnings per share. research analysts expect that Lincoln National Co. will post 8.5 EPS for the current fiscal year.
Lincoln National announced that its Board of Directors has initiated a share repurchase plan on Friday, January 19th that permits the company to repurchase shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Several research analysts have issued reports on the company. ValuEngine lowered Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. B. Riley restated a “neutral” rating on shares of Lincoln National in a research report on Monday, November 6th. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. upgraded Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 target price for the company in a research report on Tuesday, January 2nd. Finally, Wells Fargo & Co set a $80.00 target price on Lincoln National and gave the company a “hold” rating in a research report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $83.27.
In related news, CFO Randal J. Freitag sold 31,657 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $84.32, for a total value of $2,669,318.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dennis R. Glass sold 102,367 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $84.71, for a total value of $8,671,508.57. The disclosure for this sale can be found here. Insiders sold 141,324 shares of company stock valued at $11,961,400 in the last quarter. 1.12% of the stock is owned by company insiders.
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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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