MML Investors Services LLC cut its stake in Lincoln National Co. (NYSE:LNC) by 49.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,169 shares of the financial services provider’s stock after selling 5,941 shares during the period. MML Investors Services LLC’s holdings in Lincoln National were worth $417,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in LNC. JPMorgan Chase & Co. boosted its holdings in Lincoln National by 59.7% in the third quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock valued at $806,475,000 after purchasing an additional 4,457,743 shares during the period. Levin Capital Strategies L.P. boosted its holdings in Lincoln National by 22,593.4% in the third quarter. Levin Capital Strategies L.P. now owns 907,735 shares of the financial services provider’s stock valued at $61,417,000 after purchasing an additional 903,735 shares during the period. Millennium Management LLC boosted its holdings in Lincoln National by 89.9% in the second quarter. Millennium Management LLC now owns 1,646,582 shares of the financial services provider’s stock valued at $102,500,000 after purchasing an additional 779,470 shares during the period. BlackRock Inc. boosted its holdings in Lincoln National by 3.2% in the second quarter. BlackRock Inc. now owns 19,580,560 shares of the financial services provider’s stock valued at $1,218,887,000 after purchasing an additional 610,043 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Lincoln National by 1,669.8% in the second quarter. Renaissance Technologies LLC now owns 641,974 shares of the financial services provider’s stock valued at $39,963,000 after purchasing an additional 605,700 shares during the period. Hedge funds and other institutional investors own 80.85% of the company’s stock.
Lincoln National stock opened at $59.50 on Thursday. Lincoln National Co. has a 1-year low of $57.06 and a 1-year high of $86.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 7.64 and a beta of 1.87.
Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, November 1st. The financial services provider reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.17. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the firm earned $1.87 earnings per share. Lincoln National’s quarterly revenue was up 21.4% on a year-over-year basis. As a group, analysts anticipate that Lincoln National Co. will post 8.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.33. This represents a $1.48 dividend on an annualized basis and a yield of 2.49%. Lincoln National’s dividend payout ratio (DPR) is currently 16.94%.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Thursday, November 15th. ValuEngine lowered Lincoln National from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Morgan Stanley decreased their target price on Lincoln National from $76.00 to $74.00 and set an “equal weight” rating for the company in a report on Tuesday, November 13th. Keefe, Bruyette & Woods upgraded Lincoln National from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Monday, November 5th. Finally, Deutsche Bank decreased their target price on Lincoln National from $74.00 to $73.00 and set a “buy” rating for the company in a report on Monday, November 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Lincoln National currently has a consensus rating of “Hold” and an average price target of $76.69.
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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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