Cornerstone Capital Management Holdings LLC. lowered its holdings in Lincoln National Co. (NYSE:LNC) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 285,622 shares of the financial services provider’s stock after selling 113,902 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.13% of Lincoln National worth $21,955,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Elkfork Partners LLC bought a new stake in Lincoln National in the 4th quarter valued at about $24,709,000. Captrust Financial Advisors raised its position in shares of Lincoln National by 17.9% in the 4th quarter. Captrust Financial Advisors now owns 16,856 shares of the financial services provider’s stock valued at $1,296,000 after buying an additional 2,562 shares in the last quarter. Raymond James & Associates raised its position in shares of Lincoln National by 2.3% in the 4th quarter. Raymond James & Associates now owns 121,754 shares of the financial services provider’s stock valued at $9,359,000 after buying an additional 2,699 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Lincoln National by 0.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 539,608 shares of the financial services provider’s stock valued at $41,479,000 after buying an additional 3,900 shares in the last quarter. Finally, HBK Investments L P raised its position in shares of Lincoln National by 10.7% in the 4th quarter. HBK Investments L P now owns 130,800 shares of the financial services provider’s stock valued at $10,055,000 after buying an additional 12,645 shares in the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.
In other Lincoln National news, EVP Lisa Buckingham sold 24,537 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $78.39, for a total transaction of $1,923,455.43. Following the sale, the executive vice president now directly owns 77,135 shares of the company’s stock, valued at approximately $6,046,612.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ellen Cooper sold 7,300 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.01, for a total transaction of $620,573.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,736 shares of company stock valued at $14,032,099. 1.12% of the stock is owned by corporate insiders.
LNC stock opened at $69.16 on Friday. The company has a market cap of $15,548.67, a P/E ratio of 8.88, a P/E/G 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 released its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.04. The business had revenue of $3.78 billion during 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 EPS. research analysts expect that Lincoln National Co. will post 8.47 earnings per share for the current fiscal year.
Lincoln National announced that its board has authorized a share buyback program on Friday, January 19th that allows the company to buyback outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Monday, April 9th. Lincoln National’s dividend payout ratio is 16.94%.
Several equities analysts have recently commented on LNC shares. Barclays restated a “buy” rating and issued 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 target price for the company in a research report on Monday, January 8th. Deutsche Bank started coverage on shares of Lincoln National in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $84.00 target price for the company. Royal Bank of Canada restated a “buy” rating and issued a $86.00 target price on shares of Lincoln National in a research report on Friday, December 8th. Finally, JPMorgan Chase set a $87.00 target price on shares of Lincoln National and gave the company a “buy” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Lincoln National presently has a consensus rating of “Hold” and an average target price 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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