First Republic Investment Management Inc. boosted its stake in shares of Lincoln National Co. (NYSE:LNC) by 5.8% during the 4th quarter, Holdings Channel reports. The firm owned 172,742 shares of the financial services provider’s stock after acquiring an additional 9,503 shares during the quarter. First Republic Investment Management Inc.’s holdings in Lincoln National were worth $13,279,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV purchased a new stake in Lincoln National during the 4th quarter worth approximately $108,000. Cerebellum GP LLC purchased a new stake in Lincoln National during the 4th quarter worth approximately $123,000. Resources Investment Advisors Inc. grew its position in Lincoln National by 125.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,800 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 1,000 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Lincoln National during the 3rd quarter worth approximately $171,000. Finally, NuWave Investment Management LLC purchased a new stake in Lincoln National during the 4th quarter worth approximately $180,000. 79.29% of the stock is currently owned by institutional investors.
Shares of Lincoln National Co. (NYSE LNC) opened at $78.02 on Friday. 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 company has a market cap of $17,070.00, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.96.
Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 EPS for the quarter, beating the 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 business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the business posted $1.77 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. equities research analysts predict that Lincoln National Co. will post 8.5 earnings per share for the current year.
Lincoln National declared that its board has initiated a stock repurchase plan on Friday, January 19th that permits the company to repurchase shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, April 9th. Lincoln National’s dividend payout ratio is currently 14.32%.
In related news, EVP Ellen Cooper sold 7,300 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dennis R. Glass sold 102,367 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $84.71, for a total transaction of $8,671,508.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,199 shares of company stock valued at $12,108,644. Company insiders own 1.12% of the company’s stock.
Several analysts have weighed in on the stock. Barclays reissued a “buy” rating and set a $90.00 target price on shares of Lincoln National in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Monday, January 8th. Deutsche Bank started coverage on shares of Lincoln National in a research note on Tuesday, January 2nd. They set a “buy” rating and a $84.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $89.00 price objective on shares of Lincoln National in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $83.27.
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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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