SG Americas Securities LLC trimmed its holdings in shares of Lincoln National Co. (NYSE:LNC) by 60.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,713 shares of the financial services provider’s stock after selling 37,081 shares during the period. SG Americas Securities LLC’s holdings in Lincoln National were worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Gemmer Asset Management LLC lifted its holdings in Lincoln National by 89.7% during the 1st quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock worth $25,000 after buying an additional 200 shares during the last quarter. NuWave Investment Management LLC lifted its holdings in Lincoln National by 603.1% during the 1st quarter. NuWave Investment Management LLC now owns 450 shares of the financial services provider’s stock worth $26,000 after buying an additional 386 shares during the last quarter. Horan Capital Advisors LLC. purchased a new stake in Lincoln National during the 1st quarter worth about $34,000. Proficio Capital Partners LLC lifted its holdings in Lincoln National by 169.6% during the 4th quarter. Proficio Capital Partners LLC now owns 585 shares of the financial services provider’s stock worth $30,000 after buying an additional 368 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in Lincoln National by 718.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 753 shares of the financial services provider’s stock worth $38,000 after buying an additional 661 shares during the last quarter. 84.49% of the stock is owned by institutional investors.
A number of analysts have issued reports on the company. 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 report on Friday. JPMorgan Chase & Co. set a $92.00 target price on Lincoln National and gave the company a “buy” rating in a report on Thursday, May 2nd. UBS Group boosted their target price on Lincoln National from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $75.92.
Lincoln National (NYSE:LNC) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $4.25 billion. During the same period in the previous year, the business earned $1.97 EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities research analysts expect that Lincoln National Co. will post 9.29 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Tuesday, April 9th. Lincoln National’s payout ratio is currently 17.45%.
In related news, EVP Jamie Ohl sold 7,263 shares of the company’s 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 sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary C. Kelly sold 17,040 shares of the company’s 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. Insiders sold a total of 34,303 shares of company stock valued at $2,188,402 over the last three months. Company insiders own 1.50% of the company’s stock.
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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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