Lincoln National Corporation (LNC) Shares Bought by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Lincoln National Corporation (NYSE:LNC) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,618 shares of the financial services provider’s stock after purchasing an additional 1,315 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Lincoln National Corporation were worth $2,470,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. First Merchants Corp bought a new position in shares of Lincoln National Corporation in the third quarter worth approximately $735,000. Csenge Advisory Group bought a new position in Lincoln National Corporation during the third quarter valued at approximately $272,000. Andra AP fonden grew its position in Lincoln National Corporation by 3.4% during the third quarter. Andra AP fonden now owns 54,700 shares of the financial services provider’s stock valued at $4,019,000 after acquiring an additional 1,800 shares during the last quarter. Artemis Investment Management LLP grew its position in Lincoln National Corporation by 123.5% during the third quarter. Artemis Investment Management LLP now owns 128,500 shares of the financial services provider’s stock valued at $9,444,000 after acquiring an additional 71,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Lincoln National Corporation by 45.0% during the third quarter. Canada Pension Plan Investment Board now owns 426,545 shares of the financial services provider’s stock valued at $31,343,000 after acquiring an additional 132,400 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.
Lincoln National Corporation (NYSE:LNC) opened at $73.49 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.30. Lincoln National Corporation has a fifty-two week low of $58.14 and a fifty-two week high of $77.46. The stock has a market cap of $16,265.59, a P/E ratio of 9.82, a PEG ratio of 1.12 and a beta of 2.03.
Lincoln National Corporation (NYSE:LNC) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.19. Lincoln National Corporation had a net margin of 10.50% and a return on equity of 11.16%. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter last year, the business earned $1.89 earnings per share. The business’s revenue was down .4% on a year-over-year basis. research analysts forecast that Lincoln National Corporation will post 7.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a $0.33 dividend. This is a boost from Lincoln National Corporation’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, January 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.80%. Lincoln National Corporation’s dividend payout ratio (DPR) is currently 18.15%.
A number of research analysts have commented on the stock. Morgan Stanley increased their price target on shares of Lincoln National Corporation from $77.00 to $79.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. B. Riley reiterated a “neutral” rating on shares of Lincoln National Corporation in a research report on Monday, November 6th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Lincoln National Corporation in a research report on Wednesday, October 18th. They set a “sell” rating and a $71.00 price target on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $83.00 price target on shares of Lincoln National Corporation in a research report on Tuesday, October 10th. Finally, ValuEngine cut shares of Lincoln National Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $76.70.
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Lincoln National Corporation Profile
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. The Company 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 on 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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