Denali Advisors LLC lessened its holdings in shares of Lincoln National Co. (NYSE:LNC) by 16.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,600 shares of the financial services provider’s stock after selling 23,800 shares during the quarter. Denali Advisors LLC owned approximately 0.06% of Lincoln National worth $7,138,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in LNC. JPMorgan Chase & Co. raised its stake in shares of Lincoln National by 59.7% in the third quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock valued at $806,475,000 after purchasing an additional 4,457,743 shares in the last quarter. FMR LLC raised its stake in Lincoln National by 0.3% during the fourth quarter. FMR LLC now owns 5,730,943 shares of the financial services provider’s stock worth $294,055,000 after acquiring an additional 16,379 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Lincoln National by 5,290.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,956,873 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 3,883,468 shares in the last quarter. Norges Bank acquired a new position in Lincoln National during the fourth quarter worth $197,189,000. Finally, Prudential PLC raised its stake in Lincoln National by 1.0% during the fourth quarter. Prudential PLC now owns 3,250,700 shares of the financial services provider’s stock worth $166,793,000 after acquiring an additional 30,800 shares in the last quarter. 84.35% of the stock is currently owned by institutional investors.
Several analysts have recently commented on LNC shares. JPMorgan Chase & Co. set a $92.00 target price on Lincoln National and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Co initiated coverage on Lincoln National in a report on Tuesday, January 8th. They set a “market perform” rating and a $63.00 target price on the stock. UBS Group raised their price target on Lincoln National from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. Finally, Zacks Investment Research cut Lincoln National from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Lincoln National has an average rating of “Hold” and an average price target of $74.69.
Lincoln National (NYSE:LNC) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.08 by $0.06. Lincoln National had a return on equity of 12.41% and a net margin of 9.92%. The business had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter last year, the firm earned $1.97 EPS. Lincoln National’s revenue for the quarter was up 19.7% compared to the same quarter last year. Equities analysts anticipate that Lincoln National Co. will post 9.23 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.48 dividend on an annualized basis and a yield of 2.20%. Lincoln National’s dividend payout ratio is 17.45%.
In other news, Director Gary C. Kelly sold 17,040 shares of Lincoln National stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $66.63, for a total transaction of $1,135,375.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jamie Ohl sold 7,263 shares of Lincoln National stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $61.70, for a total value of $448,127.10. Following the transaction, the executive vice president now owns 23,159 shares of the company’s stock, valued at $1,428,910.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,303 shares of company stock valued at $2,188,402. Corporate insiders own 1.50% 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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