Signature Wealth Management Group lifted its position in shares of Lincoln National Co. (NYSE:LNC) by 14.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,249 shares of the financial services provider’s stock after buying an additional 1,187 shares during the quarter. Signature Wealth Management Group’s holdings in Lincoln National were worth $543,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of LNC. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 4,457,743 shares during the last quarter. FMR LLC grew its position in Lincoln National by 0.3% in the fourth quarter. FMR LLC now owns 5,730,943 shares of the financial services provider’s stock valued at $294,055,000 after acquiring an additional 16,379 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Lincoln National by 5,290.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,956,873 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 3,883,468 shares during the last quarter. Norges Bank bought a new position in Lincoln National in the fourth quarter valued at about $197,189,000. Finally, Prudential PLC grew its position in Lincoln National by 1.0% in the fourth quarter. Prudential PLC now owns 3,250,700 shares of the financial services provider’s stock valued at $166,793,000 after acquiring an additional 30,800 shares during the last quarter. 84.49% of the stock is owned by institutional investors.
In related news, EVP Jamie Ohl sold 7,263 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $61.70, for a total transaction of $448,127.10. Following the completion of the sale, the executive vice president now owns 23,159 shares in the company, valued at $1,428,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dennis R. Glass sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $60.49, for a total value of $604,900.00. The disclosure for this sale can be found here. Insiders have sold 34,303 shares of company stock valued at $2,188,402 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.
Lincoln National (NYSE:LNC) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. Lincoln National had a return on equity of 12.32% and a net margin of 9.02%. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same period in the prior year, the firm earned $1.97 earnings per share. Lincoln National’s revenue for the quarter was up 19.7% on a year-over-year basis. Equities analysts predict that Lincoln National Co. will post 9.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.48 annualized dividend and a yield of 2.28%. Lincoln National’s dividend payout ratio (DPR) is currently 17.45%.
A number of research analysts have issued reports on LNC shares. JPMorgan Chase & Co. set a $92.00 target price on Lincoln National and gave the company a “buy” rating in a research report on Thursday, May 2nd. UBS Group boosted their price target on Lincoln National from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. 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 issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $74.69.
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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