Lincoln National Corp. (LNC) Shares Sold by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. reduced its stake in Lincoln National Corp. (NYSE:LNC) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,098 shares of the company’s stock after selling 8,715 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of Lincoln National Corp. worth $9,213,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Barnett & Company Inc. acquired a new position in shares of Lincoln National Corp. during the first quarter valued at $104,000. Capital Analysts LLC increased its position in shares of Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock valued at $106,000 after buying an additional 594 shares during the period. North Star Investment Management Corp. acquired a new position in shares of Lincoln National Corp. during the second quarter valued at $127,000. Societe Generale acquired a new position in shares of Lincoln National Corp. during the second quarter valued at $132,000. Finally, Quadrant Capital Group LLC increased its position in shares of Lincoln National Corp. by 0.7% in the second quarter. Quadrant Capital Group LLC now owns 3,896 shares of the company’s stock valued at $146,000 after buying an additional 26 shares during the period. Institutional investors own 77.97% of the company’s stock.
Shares of Lincoln National Corp. (NYSE:LNC) traded down 1.56% on Monday, reaching $63.15. The company’s stock had a trading volume of 1,576,921 shares. The stock has a market capitalization of $14.43 billion, a P/E ratio of 11.93 and a beta of 1.99. Lincoln National Corp. has a 1-year low of $30.39 and a 1-year high of $64.71. The company has a 50 day moving average of $53.62 and a 200 day moving average of $46.65.
Lincoln National Corp. (NYSE:LNC) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.28. Lincoln National Corp. had a return on equity of 9.89% and a net margin of 9.63%. The company earned $3.53 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts expect that Lincoln National Corp. will post $6.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be paid a $0.29 dividend. The ex-dividend date is Friday, January 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.81%. This is a boost from Lincoln National Corp.’s previous quarterly dividend of $0.25. Lincoln National Corp.’s payout ratio is currently 18.83%.
Several equities analysts recently weighed in on the stock. FBR & Co increased their price target on shares of Lincoln National Corp. from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, October 18th. Wells Fargo & Co. assumed coverage on shares of Lincoln National Corp. in a report on Friday, September 23rd. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Lincoln National Corp. from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, November 21st. Finally, Credit Suisse Group AG assumed coverage on shares of Lincoln National Corp. in a report on Friday, October 7th. They issued a “neutral” rating and a $57.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $53.50.
In other Lincoln National Corp. news, CAO Christine A. Janofsky sold 1,025 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $60.11, for a total value of $61,612.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark E. Konen sold 154,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $58.62, for a total value of $9,027,480.00. Following the sale, the insider now owns 190,411 shares of the company’s stock, valued at approximately $11,161,892.82. The disclosure for this sale can be found here. 1.41% of the stock is owned by company insiders.
About Lincoln National Corp.
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. It operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses in the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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