Deutsche Bank AG raised its holdings in Lincoln National Co. (NYSE:LNC) by 21.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 668,427 shares of the financial services provider’s stock after acquiring an additional 117,371 shares during the period. Deutsche Bank AG owned approximately 0.31% of Lincoln National worth $51,376,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in LNC. Rowland & Co. Investment Counsel ADV purchased a new position in Lincoln National in the 4th quarter worth approximately $108,000. Cerebellum GP LLC purchased a new position in Lincoln National in the 4th quarter worth approximately $123,000. Resources Investment Advisors Inc. increased its stake in Lincoln National by 125.0% in 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 period. Focused Wealth Management Inc purchased a new position in Lincoln National in the 4th quarter worth approximately $169,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Lincoln National in the 3rd quarter worth approximately $171,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Barclays reiterated a “buy” rating and issued a $90.00 price objective on shares of Lincoln National in a research report on Tuesday, January 9th. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Monday, January 8th. Keefe, Bruyette & Woods restated a “hold” rating and set a $89.00 price target on shares of Lincoln National in a research report on Friday, December 22nd. Royal Bank of Canada restated a “buy” rating and set a $86.00 price target on shares of Lincoln National in a research report on Friday, December 8th. Finally, JPMorgan Chase raised Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 target price on the stock in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $84.33.
Shares of Lincoln National stock opened at $69.16 on Friday. Lincoln National Co. has a 12 month low of $62.67 and a 12 month high of $86.68. The company has a market cap of $15,548.67, a P/E ratio of 8.88, a PEG ratio of 1.05 and a beta of 1.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.10 and a quick ratio of 0.10.
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 analysts’ consensus estimates of $1.94 by $0.04. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. research analysts predict that Lincoln National Co. will post 8.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.32 annualized dividend and a yield of 1.91%. Lincoln National’s payout ratio is currently 16.94%.
Lincoln National declared that its Board of Directors has initiated a share buyback program on Friday, January 19th that permits the company to repurchase shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Lincoln National news, EVP Ellen Cooper sold 7,300 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.01, for a total transaction of $620,573.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa Buckingham sold 24,537 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $78.39, for a total value of $1,923,455.43. Following the sale, the executive vice president now directly owns 77,135 shares in the company, valued at approximately $6,046,612.65. The disclosure for this sale can be found here. Insiders have sold a total of 167,736 shares of company stock worth $14,032,099 over the last 90 days. 1.12% of the stock is currently owned by company insiders.
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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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