Parametric Portfolio Associates LLC raised its holdings in shares of Lincoln National Co. (NYSE:LNC) by 5.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,249,112 shares of the financial services provider’s stock after purchasing an additional 61,433 shares during the period. Parametric Portfolio Associates LLC’s holdings in Lincoln National were worth $73,323,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its position in Lincoln National by 0.3% during the 4th quarter. FMR LLC now owns 5,730,943 shares of the financial services provider’s stock valued at $294,055,000 after purchasing an additional 16,379 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Lincoln National by 5,290.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,956,873 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 3,883,468 shares during the period. Norges Bank acquired a new position in Lincoln National during the 4th quarter valued at about $197,189,000. Prudential PLC lifted its position in Lincoln National by 1.0% during the 4th quarter. Prudential PLC now owns 3,250,700 shares of the financial services provider’s stock valued at $166,793,000 after purchasing an additional 30,800 shares during the period. Finally, Geode Capital Management LLC lifted its position in Lincoln National by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,898,554 shares of the financial services provider’s stock valued at $148,472,000 after purchasing an additional 197,294 shares during the period. Institutional investors own 80.65% of the company’s stock.
In related news, EVP Kenneth S. Solon sold 11,738 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $64.39, for a total transaction of $755,809.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary C. Kelly sold 17,040 shares of the stock in a transaction that occurred on 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. Over the last three months, insiders have sold 36,041 shares of company stock valued at $2,339,312. 1.50% of the stock is owned by company insiders.
Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. The company 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%. Lincoln National’s revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.97 EPS. As a group, sell-side analysts expect that Lincoln National Co. will post 9.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.33%. Lincoln National’s payout ratio is 17.45%.
A number of research analysts have issued reports on LNC shares. JPMorgan Chase & Co. set a $92.00 target price on shares of Lincoln National and gave the company a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Friday, May 10th. UBS Group upped their price target on Lincoln National from $67.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average 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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