Citizens Financial Group Inc RI decreased its stake in Lincoln National Co. (NYSE:LNC) by 96.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,101 shares of the financial services provider’s stock after selling 90,269 shares during the period. Citizens Financial Group Inc RI’s holdings in Lincoln National were worth $210,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. CX Institutional acquired a new stake in Lincoln National during the 2nd quarter worth $117,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Lincoln National during the 2nd quarter worth $128,000. FNY Investment Advisers LLC acquired a new stake in Lincoln National during the 3rd quarter worth $135,000. Stratos Wealth Partners LTD. acquired a new stake in Lincoln National during the 3rd quarter worth $167,000. Finally, Whittier Trust Co. boosted its stake in Lincoln National by 38.7% during the 2nd quarter. Whittier Trust Co. now owns 3,288 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 917 shares during the period. Institutional investors and hedge funds own 81.55% of the company’s stock.
LNC has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Tuesday, July 24th. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 22nd. Bank of America decreased their price target on shares of Lincoln National from $79.00 to $75.00 and set a “buy” rating for the company in a research note on Friday. Deutsche Bank decreased their price target on shares of Lincoln National from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Monday. Finally, Goldman Sachs Group upgraded shares of Lincoln National from a “sell” rating to a “neutral” rating and increased their price target for the stock from $69.00 to $70.00 in a research note on Monday, September 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Lincoln National currently has a consensus rating of “Hold” and a consensus target price of $77.62.
LNC stock opened at $64.48 on Tuesday. Lincoln National Co. has a one year low of $57.06 and a one year high of $86.68. The firm has a market capitalization of $13.72 billion, a PE ratio of 7.62 and a beta of 1.90. The company has a quick ratio of 0.19, a current ratio of 0.18 and a debt-to-equity ratio of 0.39.
Lincoln National (NYSE:LNC) last released its earnings results on Thursday, November 1st. The financial services provider reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.17. Lincoln National had a net margin of 13.14% and a return on equity of 11.61%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter last year, the business earned $1.87 EPS. The business’s revenue was up 21.4% on a year-over-year basis. As a group, research analysts expect that Lincoln National Co. will post 8.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.33. Lincoln National’s dividend payout ratio (DPR) is 16.94%.
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Lincoln National Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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