Guggenheim Capital LLC trimmed its stake in Lincoln National Co. (NYSE:LNC) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 680,546 shares of the financial services provider’s stock after selling 28,771 shares during the period. Guggenheim Capital LLC owned about 0.31% of Lincoln National worth $52,312,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV acquired a new position in Lincoln National during the 4th quarter worth approximately $108,000. Cerebellum GP LLC acquired a new position in Lincoln National during the 4th quarter worth approximately $123,000. Resources Investment Advisors Inc. grew its holdings 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 acquiring an additional 1,000 shares in the last quarter. Focused Wealth Management Inc acquired a new position in Lincoln National during the 4th quarter worth approximately $169,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Lincoln National during the 3rd quarter worth approximately $171,000. 82.34% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Dennis R. Glass sold 102,367 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $84.71, for a total transaction of $8,671,508.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Randal J. Freitag sold 31,657 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $84.32, for a total transaction of $2,669,318.24. 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 ninety days. 1.12% of the stock is owned by corporate insiders.
Shares of NYSE:LNC traded down $2.18 on Friday, reaching $69.16. 1,449,987 shares of the company were exchanged, compared to its average volume of 1,284,796. The stock has a market cap of $15,570.50, a PE ratio of 8.88, a price-to-earnings-growth ratio of 1.05 and a beta of 1.94. Lincoln National Co. has a 1-year low of $62.67 and a 1-year high of $86.68. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.28.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.04. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.77 EPS. equities analysts anticipate that Lincoln National Co. will post 8.45 earnings per share for the current year.
Lincoln National declared that its board has approved a stock buyback plan on Friday, January 19th that allows the company to repurchase outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be paid 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 1.91%. Lincoln National’s dividend payout ratio is currently 16.94%.
Several brokerages have recently weighed in on LNC. ValuEngine downgraded shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo set a $80.00 price objective on shares of Lincoln National and gave the stock a “hold” rating in a research report on Tuesday. JPMorgan Chase set a $87.00 price target on shares of Lincoln National and gave the company a “buy” rating in a research report on Monday, April 2nd. Bank of America assumed coverage on shares of Lincoln National in a research report on Monday, March 26th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $84.33.
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Lincoln National Company 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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