Highland Capital Management LLC Has $2.80 Million Position in Lincoln National Co. (NYSE:LNC)

Highland Capital Management LLC reduced its stake in shares of Lincoln National Co. (NYSE:LNC) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,748 shares of the financial services provider’s stock after selling 725 shares during the quarter. Highland Capital Management LLC’s holdings in Lincoln National were worth $2,803,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Northern Oak Wealth Management Inc. acquired a new stake in Lincoln National during the fourth quarter worth $2,912,000. Abacus Planning Group Inc. acquired a new position in Lincoln National during the 4th quarter worth about $571,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in Lincoln National during the 1st quarter worth about $223,000. Globeflex Capital L P acquired a new position in Lincoln National during the 4th quarter worth about $397,000. Finally, DNB Asset Management AS raised its holdings in Lincoln National by 30.9% during the 1st quarter. DNB Asset Management AS now owns 65,029 shares of the financial services provider’s stock worth $3,817,000 after purchasing an additional 15,358 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Shares of NYSE LNC traded up $0.35 during trading hours on Friday, hitting $65.35. The company had a trading volume of 1,714,478 shares, compared to its average volume of 1,245,110. The company has a market cap of $13.22 billion, a PE ratio of 7.71, a PEG ratio of 0.78 and a beta of 1.95. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.34. Lincoln National Co. has a 1-year low of $48.07 and a 1-year high of $71.27.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share for the quarter, beating 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 business had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the prior year, the business earned $1.97 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, sell-side analysts predict that Lincoln National Co. will post 9.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Tuesday, April 9th. Lincoln National’s dividend payout ratio (DPR) is presently 17.45%.

In other Lincoln National news, EVP Jamie Ohl sold 7,263 shares of the 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 transaction, the executive vice president now owns 23,159 shares in the company, valued at approximately $1,428,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary C. Kelly sold 17,040 shares of the stock in a transaction 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. In the last 90 days, insiders sold 34,303 shares of company stock worth $2,188,402. 1.50% of the stock is owned by company insiders.

LNC has been the subject of several recent research reports. Zacks Investment Research cut Lincoln National from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. UBS Group upped their price target on Lincoln National from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. set a $92.00 price target on Lincoln National and gave the company a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $75.92.

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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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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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