MML Investors Services LLC increased its stake in Lincoln National Co. (NYSE:LNC) by 118.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,552 shares of the financial services provider’s stock after acquiring an additional 4,634 shares during the quarter. MML Investors Services LLC’s holdings in Lincoln National were worth $657,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Lombard Odier Asset Management Switzerland SA lifted its stake in shares of Lincoln National by 2.9% in the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 24,219 shares of the financial services provider’s stock worth $1,862,000 after acquiring an additional 674 shares during the period. Corient Capital Partners LLC lifted its stake in shares of Lincoln National by 2.0% in the fourth quarter. Corient Capital Partners LLC now owns 40,851 shares of the financial services provider’s stock worth $3,140,000 after acquiring an additional 811 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Lincoln National by 13.0% in the fourth quarter. Raymond James Trust N.A. now owns 7,167 shares of the financial services provider’s stock worth $551,000 after acquiring an additional 826 shares during the period. M&T Bank Corp lifted its stake in shares of Lincoln National by 2.2% in the fourth quarter. M&T Bank Corp now owns 39,991 shares of the financial services provider’s stock worth $3,074,000 after acquiring an additional 861 shares during the period. Finally, Telemus Capital LLC lifted its stake in shares of Lincoln National by 5.9% in the fourth quarter. Telemus Capital LLC now owns 16,184 shares of the financial services provider’s stock worth $1,244,000 after acquiring an additional 902 shares during the period. 82.30% of the stock is currently owned by institutional investors.
LNC has been the topic of several recent analyst reports. Barclays reissued a “buy” rating and issued a $90.00 price target on shares of Lincoln National in a research note on Tuesday, January 9th. Royal Bank of Canada reissued a “buy” rating and issued a $86.00 price target on shares of Lincoln National in a research note on Friday, December 8th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $89.00 price target on shares of Lincoln National in a research note on Friday, December 22nd. Deutsche Bank initiated coverage on Lincoln National in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $84.00 price target on the stock. Finally, Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $83.33.
In other news, CEO Dennis R. Glass sold 102,367 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $84.71, for a total transaction of $8,671,508.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ellen Cooper sold 7,300 shares of the business’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,736 shares of company stock valued at $14,032,099. Corporate insiders own 1.12% of the company’s stock.
Shares of Lincoln National Co. (LNC) opened at $76.36 on Friday. The company has a market capitalization of $16,694.52, a P/E ratio of 9.83, a PEG ratio of 1.13 and a beta of 1.97. Lincoln National Co. has a 1-year low of $61.45 and a 1-year high of $86.68. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.28.
Lincoln National (NYSE:LNC) last released its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.04. The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.65 billion. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 earnings per share. sell-side analysts expect that Lincoln National Co. will post 8.5 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, April 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.73%. Lincoln National’s dividend payout ratio is 14.29%.
Lincoln National announced that its board has approved a stock buyback plan on Friday, January 19th that permits the company to buyback shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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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