MetLife Investment Advisors LLC acquired a new stake in Lincoln National Co. (NYSE:LNC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 67,707 shares of the financial services provider’s stock, valued at approximately $5,205,000.
Several other institutional investors have also bought and sold shares of the company. Viking Global Investors LP increased its position in shares of Lincoln National by 119.3% during the fourth quarter. Viking Global Investors LP now owns 2,182,923 shares of the financial services provider’s stock worth $167,801,000 after purchasing an additional 1,187,323 shares in the last quarter. Cornerstone Investment Partners LLC increased its position in shares of Lincoln National by 53.5% during the fourth quarter. Cornerstone Investment Partners LLC now owns 1,481,014 shares of the financial services provider’s stock worth $113,846,000 after purchasing an additional 516,066 shares in the last quarter. Millennium Management LLC increased its position in shares of Lincoln National by 107.0% during the fourth quarter. Millennium Management LLC now owns 994,144 shares of the financial services provider’s stock worth $76,420,000 after purchasing an additional 513,786 shares in the last quarter. Elkfork Partners LLC purchased a new stake in shares of Lincoln National during the fourth quarter worth approximately $24,709,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Lincoln National by 30.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 896,252 shares of the financial services provider’s stock worth $68,895,000 after purchasing an additional 208,053 shares in the last quarter. Institutional investors and hedge funds own 82.33% of the company’s stock.
In other news, EVP Ellen Cooper sold 7,300 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.01, for a total value of $620,573.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Randal J. Freitag sold 31,657 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $84.32, for a total value of $2,669,318.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,736 shares of company stock valued at $14,032,099. 1.12% of the stock is owned by company insiders.
Shares of Lincoln National stock opened at $70.36 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $15,356.63, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 1.04 and a beta of 1.97. Lincoln National Co. has a twelve month low of $61.45 and a twelve month high of $86.68.
Lincoln National (NYSE:LNC) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.04. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 EPS. equities research analysts anticipate that Lincoln National Co. will post 8.5 earnings per share for the current year.
Lincoln National declared that its Board of Directors has approved a stock buyback plan on Friday, January 19th that allows the company to repurchase outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Monday, April 9th. Lincoln National’s payout ratio is currently 14.29%.
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About Lincoln National
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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