Neuburgh Advisers LLC grew its position in Lincoln National Co. (NYSE:LNC) by 90.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,942 shares of the financial services provider’s stock after buying an additional 45,562 shares during the quarter. Neuburgh Advisers LLC’s holdings in Lincoln National were worth $5,632,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Gemmer Asset Management LLC increased its position in shares of Lincoln National by 89.7% in the first quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock valued at $25,000 after buying an additional 200 shares in the last quarter. NuWave Investment Management LLC increased its position in shares of Lincoln National by 603.1% in the first quarter. NuWave Investment Management LLC now owns 450 shares of the financial services provider’s stock valued at $26,000 after buying an additional 386 shares in the last quarter. Horan Capital Advisors LLC. purchased a new position in shares of Lincoln National in the first quarter valued at $34,000. Proficio Capital Partners LLC increased its position in shares of Lincoln National by 169.6% in the fourth quarter. Proficio Capital Partners LLC now owns 585 shares of the financial services provider’s stock valued at $30,000 after buying an additional 368 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Lincoln National in the first quarter valued at $51,000. Institutional investors and hedge funds own 80.64% of the company’s stock.
Lincoln National stock traded down $0.85 during midday trading on Wednesday, reaching $63.28. 58,991 shares of the company were exchanged, compared to its average volume of 1,685,883. The stock has a market cap of $12.90 billion, a PE ratio of 7.45, a P/E/G ratio of 0.75 and a beta of 1.93. Lincoln National Co. has a 1 year low of $48.07 and a 1 year high of $71.27. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.34.
Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The firm had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Lincoln National had a return on equity of 12.32% and a net margin of 9.02%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. On average, equities analysts predict that Lincoln National Co. will post 9.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Tuesday, July 9th. Lincoln National’s dividend payout ratio is presently 17.45%.
In other Lincoln National news, EVP Kenneth S. Solon sold 11,738 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $64.39, for a total value of $755,809.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary C. Kelly sold 17,040 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $66.63, for a total value of $1,135,375.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,041 shares of company stock valued at $2,339,312. 1.50% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on LNC shares. UBS Group raised their price target on Lincoln National from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. JPMorgan Chase & Co. set a $92.00 price target on Lincoln National and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.85.
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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 Annuities segment offers variable, fixed, and indexed variable annuities.
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