Worldquant Millennium Quantitative Strategies LLC grew its position in shares of Lincoln National Co. (NYSE:LNC) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,335 shares of the financial services provider’s stock after purchasing an additional 3,748 shares during the quarter. Worldquant Millennium Quantitative Strategies LLC’s holdings in Lincoln National were worth $992,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Northern Oak Wealth Management Inc. bought a new stake in shares of Lincoln National during the fourth quarter valued at approximately $2,912,000. Bach Investment Advisors Ltd bought a new stake in Lincoln National during the fourth quarter worth $371,000. Crossmark Global Holdings Inc. grew its holdings in Lincoln National by 29.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 37,880 shares of the financial services provider’s stock worth $1,944,000 after buying an additional 8,639 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Lincoln National by 22.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,239,865 shares of the financial services provider’s stock worth $63,617,000 after buying an additional 229,759 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in Lincoln National by 22.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 77,589 shares of the financial services provider’s stock worth $3,957,000 after buying an additional 14,277 shares in the last quarter. 84.13% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on LNC. Wells Fargo & Co began coverage on Lincoln National in a report on Tuesday, January 8th. They set a “market perform” rating and a $63.00 price target for the company. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. UBS Group boosted their price objective on Lincoln National from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Finally, Zacks Investment Research cut Lincoln National from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Lincoln National has a consensus rating of “Hold” and an average target price of $73.08.
Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Lincoln National had a return on equity of 12.41% and a net margin of 9.92%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the firm earned $1.98 EPS. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities analysts expect that Lincoln National Co. will post 9.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.29%. Lincoln National’s payout ratio is 17.45%.
In related news, CEO Dennis R. Glass sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $60.49, for a total transaction of $604,900.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jamie Ohl sold 7,263 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $61.70, for a total value of $448,127.10. Following the sale, the executive vice president now owns 23,159 shares in the company, valued at $1,428,910.30. The disclosure for this sale can be found here. Insiders own 6.31% of the company’s stock.
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About Lincoln National
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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