BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Lincoln National Co. (NYSE:LNC) by 9.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 73,438 shares of the financial services provider’s stock after buying an additional 6,175 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lincoln National were worth $3,768,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC boosted its holdings in Lincoln National by 169.6% in the 4th quarter. Proficio Capital Partners LLC now owns 585 shares of the financial services provider’s stock worth $30,000 after buying an additional 368 shares during the period. Flagship Harbor Advisors LLC boosted its holdings in Lincoln National by 718.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 753 shares of the financial services provider’s stock worth $38,000 after buying an additional 661 shares during the period. Lindbrook Capital LLC bought a new position in Lincoln National in the 4th quarter worth $44,000. Arlington Partners LLC bought a new position in Lincoln National in the 4th quarter worth $47,000. Finally, JOYN Advisors Inc. boosted its holdings in Lincoln National by 24.6% in the 4th quarter. JOYN Advisors Inc. now owns 937 shares of the financial services provider’s stock worth $48,000 after buying an additional 185 shares during the period. 78.96% of the stock is owned by institutional investors.
Shares of LNC stock opened at $61.74 on Friday. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 7.28, a P/E/G ratio of 0.74 and a beta of 1.93. Lincoln National Co. has a 52 week low of $48.07 and a 52 week high of $78.35. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.19 and a current ratio of 0.19.
Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Lincoln National had a net margin of 9.92% and a return on equity of 12.41%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.98 EPS. As a group, equities analysts expect that Lincoln National Co. will post 9.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.40%. The ex-dividend date is Tuesday, April 9th. Lincoln National’s payout ratio is currently 17.45%.
LNC has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Lincoln National from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, December 10th. Wells Fargo & Co initiated coverage on shares of Lincoln National in a report on Tuesday, January 8th. They issued a “market perform” rating and a $63.00 target price for the company. Finally, ValuEngine downgraded shares of Lincoln National from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $74.69.
In other news, CEO Dennis R. Glass sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $60.49, for a total transaction of $604,900.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jamie Ohl sold 7,263 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $61.70, for a total transaction of $448,127.10. Following the sale, the executive vice president now owns 23,159 shares in the company, valued at $1,428,910.30. The disclosure for this sale can be found here. 6.31% of the stock is owned by insiders.
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Lincoln National Company 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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