Two Sigma Investments LP grew its position in Lincoln National Co. (NYSE:LNC) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,673 shares of the financial services provider’s stock after purchasing an additional 30,156 shares during the period. Two Sigma Investments LP owned approximately 0.15% of Lincoln National worth $24,804,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in Lincoln National by 1.7% during the 4th quarter. LSV Asset Management now owns 5,426,875 shares of the financial services provider’s stock worth $417,163,000 after purchasing an additional 88,897 shares during the last quarter. Lyrical Asset Management LP increased its holdings in Lincoln National by 2.5% during the 4th quarter. Lyrical Asset Management LP now owns 4,417,721 shares of the financial services provider’s stock worth $339,590,000 after purchasing an additional 109,845 shares during the last quarter. Viking Global Investors LP grew its position in shares of Lincoln National by 119.3% in the 4th quarter. Viking Global Investors LP now owns 2,182,923 shares of the financial services provider’s stock worth $167,801,000 after acquiring an additional 1,187,323 shares in the last quarter. Cornerstone Investment Partners LLC grew its position in shares of Lincoln National by 53.5% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,481,014 shares of the financial services provider’s stock worth $113,846,000 after acquiring an additional 516,066 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in shares of Lincoln National by 16.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,323,021 shares of the financial services provider’s stock worth $101,701,000 after acquiring an additional 188,124 shares in the last quarter. 82.34% of the stock is currently owned by institutional investors and hedge funds.
In other Lincoln National news, EVP Lisa Buckingham sold 24,537 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $78.39, for a total value of $1,923,455.43. Following the transaction, the executive vice president now owns 77,135 shares in the company, valued at $6,046,612.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ellen Cooper sold 7,300 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was 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. Insiders sold 167,736 shares of company stock worth $14,032,099 in the last 90 days. Corporate insiders own 1.12% of the company’s stock.
NYSE:LNC opened at $69.16 on Friday. The firm has a market cap of $15,548.67, a P/E 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 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 posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.04. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. Lincoln National’s quarterly revenue was up 7.3% on a year-over-year basis. equities research analysts predict that Lincoln National Co. will post 8.47 EPS for the current year.
Lincoln National declared that its board has authorized a stock repurchase program on Friday, January 19th that allows the company to buyback shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be paid a $0.33 dividend. The ex-dividend date is Monday, April 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.91%. Lincoln National’s dividend payout ratio (DPR) is currently 16.94%.
LNC has been the subject of several research reports. Barclays reiterated a “buy” rating and issued a $90.00 target price on shares of Lincoln National in a research report on Tuesday, January 9th. Royal Bank of Canada restated a “buy” rating and set a $86.00 price objective on shares of Lincoln National in a research report on Friday, December 8th. Deutsche Bank began coverage on Lincoln National in a research report on Tuesday, January 2nd. They set a “buy” rating and a $84.00 price objective for the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $89.00 price target on shares of Lincoln National in a research report on Friday, December 22nd. Finally, Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $84.33.
ILLEGAL ACTIVITY WARNING: “Two Sigma Investments LP Buys 30,156 Shares of Lincoln National Co. (NYSE:LNC)” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/07/two-sigma-investments-lp-has-24-80-million-stake-in-lincoln-national-co-lnc.html.
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.
Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.