Lincoln National Co. (LNC) Holdings Raised by Tredje AP fonden
Tredje AP fonden grew its holdings in Lincoln National Co. (NYSE:LNC) by 22.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,792 shares of the financial services provider’s stock after acquiring an additional 5,020 shares during the quarter. Tredje AP fonden’s holdings in Lincoln National were worth $2,042,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Lincoln National by 32.0% in the second quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock worth $239,047,000 after acquiring an additional 857,436 shares in the last quarter. Todd Asset Management LLC boosted its position in shares of Lincoln National by 57.5% during the second quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock worth $47,659,000 after buying an additional 257,581 shares during the period. Prudential Financial Inc. boosted its position in shares of Lincoln National by 42.2% during the second quarter. Prudential Financial Inc. now owns 961,078 shares of the financial services provider’s stock worth $64,950,000 after buying an additional 285,168 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of Lincoln National by 84.2% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 544,208 shares of the financial services provider’s stock worth $36,777,000 after buying an additional 248,800 shares during the period. Finally, Homrich & Berg acquired a new position in shares of Lincoln National during the second quarter worth about $204,000. Institutional investors own 80.44% of the company’s stock.
Several research firms have recently weighed in on LNC. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Thursday, August 24th. Wells Fargo & Company set a $80.00 price objective on Lincoln National and gave the stock a “hold” rating in a research report on Thursday, November 16th. ValuEngine cut Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Morgan Stanley upped their price objective on Lincoln National from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, Goldman Sachs Group began coverage on Lincoln National in a research report on Wednesday, October 18th. They set a “sell” rating and a $71.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $78.40.
Lincoln National (NYSE:LNC) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.19. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.62 billion. Lincoln National had a return on equity of 11.16% and a net margin of 10.50%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. sell-side analysts forecast that Lincoln National Co. will post 7.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.33 dividend. This is a positive change from Lincoln National’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.32 annualized dividend and a yield of 1.74%. Lincoln National’s dividend payout ratio is currently 18.15%.
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Lincoln National Company 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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