Crossmark Global Holdings Inc. grew its stake in shares of Lincoln National Co. (NYSE:LNC) by 29.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 37,880 shares of the financial services provider’s stock after acquiring an additional 8,639 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Lincoln National were worth $1,944,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Lincoln National by 59.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock valued at $806,475,000 after acquiring an additional 4,457,743 shares during the period. FMR LLC lifted its position in shares of Lincoln National by 0.3% during the 3rd quarter. FMR LLC now owns 5,714,564 shares of the financial services provider’s stock valued at $386,648,000 after acquiring an additional 18,561 shares during the period. LSV Asset Management lifted its position in shares of Lincoln National by 0.3% during the 3rd quarter. LSV Asset Management now owns 5,671,951 shares of the financial services provider’s stock valued at $383,764,000 after acquiring an additional 16,202 shares during the period. Lyrical Asset Management LP lifted its position in shares of Lincoln National by 5.1% during the 3rd quarter. Lyrical Asset Management LP now owns 5,068,451 shares of the financial services provider’s stock valued at $342,931,000 after acquiring an additional 247,509 shares during the period. Finally, Schroder Investment Management Group lifted its position in shares of Lincoln National by 69.9% during the 3rd quarter. Schroder Investment Management Group now owns 1,180,918 shares of the financial services provider’s stock valued at $79,901,000 after acquiring an additional 486,050 shares during the period. Hedge funds and other institutional investors own 79.79% of the company’s stock.
In other Lincoln National news, EVP Jamie Ohl sold 2,152 shares of the company’s stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $58.00, for a total value of $124,816.00. Following the completion of the transaction, the executive vice president now owns 12,732 shares of the company’s stock, valued at approximately $738,456. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.31% of the stock is owned by corporate insiders.
Shares of LNC stock opened at $59.22 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.39. Lincoln National Co. has a twelve month low of $48.07 and a twelve month high of $79.83. The firm has a market cap of $12.59 billion, a P/E ratio of 6.98 and a beta of 1.90.
Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.02. Lincoln National had a return on equity of 12.20% and a net margin of 9.92%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the company earned $1.98 EPS. Lincoln National’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, research analysts expect that Lincoln National Co. will post 9.18 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on LNC. 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 research report on Thursday, November 15th. Wells Fargo & Co initiated coverage on Lincoln National in a research report on Tuesday, January 8th. They set a “market perform” rating and a $63.00 price objective for the company. Keefe, Bruyette & Woods upgraded Lincoln National from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Monday, November 5th. Morgan Stanley dropped their price objective on Lincoln National from $76.00 to $74.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 13th. Finally, ValuEngine downgraded Lincoln National from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $74.69.
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About Lincoln National
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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