OLD Mutual Customised Solutions Proprietary Ltd. Raises Position in Lincoln National Co. (LNC)

OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Lincoln National Co. (NYSE:LNC) by 39.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,145 shares of the financial services provider’s stock after buying an additional 4,600 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Lincoln National were worth $1,241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LNC. Lombard Odier Asset Management Switzerland SA raised its holdings in Lincoln National by 2.9% during the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 24,219 shares of the financial services provider’s stock worth $1,862,000 after purchasing an additional 674 shares during the last quarter. BB&T Securities LLC raised its holdings in Lincoln National by 4.9% during the 4th quarter. BB&T Securities LLC now owns 15,658 shares of the financial services provider’s stock worth $1,203,000 after purchasing an additional 736 shares during the last quarter. Corient Capital Partners LLC raised its holdings in Lincoln National by 2.0% during the 4th quarter. Corient Capital Partners LLC now owns 40,851 shares of the financial services provider’s stock worth $3,140,000 after purchasing an additional 811 shares during the last quarter. Dorsey Wright & Associates raised its holdings in Lincoln National by 2.8% during the 4th quarter. Dorsey Wright & Associates now owns 30,522 shares of the financial services provider’s stock worth $2,346,000 after purchasing an additional 823 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of Lincoln National by 13.0% in the 4th quarter. Raymond James Trust N.A. now owns 7,167 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 826 shares in the last quarter. Institutional investors and hedge funds own 82.33% of the company’s stock.

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Shares of LNC stock opened at $70.36 on Friday. Lincoln National Co. has a 52-week low of $61.45 and a 52-week high of $86.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a market cap of $16,063.76, a price-to-earnings ratio of 7.61, a P/E/G ratio of 1.08 and a beta of 1.97.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.04. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the firm posted $1.77 EPS. Lincoln National’s revenue was up 7.3% compared to the same quarter last year. equities analysts forecast that Lincoln National Co. will post 8.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, April 9th. Lincoln National’s payout ratio is currently 14.29%.

Lincoln National declared that its board has initiated a share buyback program on Friday, January 19th that permits the company to buyback outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several analysts have recently weighed in on LNC shares. Royal Bank of Canada reiterated a “buy” rating and issued a $86.00 price objective on shares of Lincoln National in a research note on Friday, December 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $89.00 price objective on shares of Lincoln National in a research note on Friday, December 22nd. Zacks Investment Research lowered shares of Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Deutsche Bank started coverage on shares of Lincoln National in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $84.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded shares of Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 price objective for the company in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $83.33.

In other Lincoln National news, CFO Randal J. Freitag sold 31,657 shares of Lincoln National stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $84.32, for a total transaction of $2,669,318.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dennis R. Glass sold 102,367 shares of Lincoln National stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $84.71, for a total transaction of $8,671,508.57. The disclosure for this sale can be found here. In the last three months, insiders sold 167,736 shares of company stock valued at $14,032,099. 1.12% of the stock is currently owned by insiders.

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Lincoln National 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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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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