Candriam Luxembourg S.C.A. boosted its stake in Lincoln National Co. (NYSE:LNC) by 20.8% during the first quarter, Holdings Channel reports. The institutional investor owned 266,938 shares of the financial services provider’s stock after buying an additional 45,936 shares during the period. Candriam Luxembourg S.C.A. owned 0.12% of Lincoln National worth $17,472,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bayesian Capital Management LP purchased a new stake in shares of Lincoln National during the fourth quarter valued at $1,624,000. Poplar Forest Capital LLC boosted its stake in shares of Lincoln National by 6.7% in the third quarter. Poplar Forest Capital LLC now owns 1,151,536 shares of the financial services provider’s stock valued at $54,099,000 after buying an additional 72,590 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Lincoln National by 23.3% in the third quarter. State of Tennessee Treasury Department now owns 121,553 shares of the financial services provider’s stock valued at $5,710,000 after buying an additional 23,004 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Lincoln National by 1.7% in the third quarter. Commonwealth Bank of Australia now owns 47,550 shares of the financial services provider’s stock valued at $2,233,000 after buying an additional 800 shares in the last quarter. Finally, Tyers Asset Management LLC purchased a new stake in shares of Lincoln National during the fourth quarter valued at $7,142,000. 78.34% of the stock is owned by hedge funds and other institutional investors.
Lincoln National Co. (NYSE:LNC) traded down 0.52% during trading on Friday, reaching $64.72. The company’s stock had a trading volume of 1,633,308 shares. Lincoln National Co. has a 12 month low of $35.27 and a 12 month high of $73.31. The stock has a market cap of $14.58 billion, a PE ratio of 12.87 and a beta of 2.10. The company’s 50-day moving average is $66.19 and its 200-day moving average is $63.37.
Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, February 1st. The financial services provider reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.06. Lincoln National had a return on equity of 9.93% and a net margin of 8.88%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Lincoln National Co. will post $7.00 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $1.16 annualized dividend and a yield of 1.79%. Lincoln National’s dividend payout ratio is currently 23.25%.
Several analysts have weighed in on LNC shares. Citigroup Inc started coverage on Lincoln National in a report on Thursday, January 26th. They set a “buy” rating and a $77.00 price objective for the company. Deutsche Bank AG boosted their price objective on Lincoln National from $66.00 to $69.00 and gave the stock a “hold” rating in a report on Monday, January 23rd. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, January 10th. Bank of America Corp raised Lincoln National from a “neutral” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Thursday, April 6th. They noted that the move was a valuation call. Finally, Royal Bank of Canada upped their price target on Lincoln National from $73.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $67.75.
In other Lincoln National news, CEO Dennis R. Glass sold 159,847 shares of the business’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $69.50, for a total value of $11,109,366.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark E. Konen sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $71.65, for a total value of $3,582,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 482,641 shares of company stock worth $34,206,653. Insiders own 1.41% of the company’s stock.
Lincoln National Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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