IFM Investors Pty Ltd Invests $539,000 in Lincoln National Co. (LNC)
IFM Investors Pty Ltd bought a new position in Lincoln National Co. (NYSE:LNC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,330 shares of the financial services provider’s stock, valued at approximately $539,000.
A number of other hedge funds also recently modified their holdings of LNC. Janus Henderson Group PLC raised its position in Lincoln National by 3,936.0% during the second quarter. Janus Henderson Group PLC now owns 1,196,540 shares of the financial services provider’s stock valued at $80,862,000 after purchasing an additional 1,166,893 shares during the period. JPMorgan Chase & Co. raised its position in Lincoln National by 32.0% during the second quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after purchasing an additional 857,436 shares during the period. Vanguard Group Inc. raised its position in Lincoln National by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,649,087 shares of the financial services provider’s stock valued at $1,598,205,000 after purchasing an additional 764,714 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in Lincoln National by 91.2% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,573,659 shares of the financial services provider’s stock valued at $106,347,000 after purchasing an additional 750,776 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Lincoln National by 90.5% during the second quarter. Parametric Portfolio Associates LLC now owns 1,117,085 shares of the financial services provider’s stock valued at $75,493,000 after purchasing an additional 530,618 shares during the period. Institutional investors and hedge funds own 80.44% of the company’s stock.
Several equities research analysts have recently weighed in on LNC shares. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Thursday, August 24th. Royal Bank of Canada reiterated a “buy” rating and issued a $86.00 price target on shares of Lincoln National in a report on Friday, December 8th. Goldman Sachs Group started coverage on Lincoln National in a report on Wednesday, October 18th. They issued a “sell” rating and a $71.00 price target on the stock. Morgan Stanley increased their price target on Lincoln National from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, Wells Fargo & Company set a $80.00 price target on Lincoln National and gave the stock a “hold” rating in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $78.70.
Lincoln National (NYSE:LNC) last announced its quarterly earnings data 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 had a return on equity of 11.16% and a net margin of 10.50%. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. Lincoln National’s revenue was down .4% compared to the same quarter last year. research analysts expect that Lincoln National Co. will post 7.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.32 annualized dividend and a yield of 1.74%. This is a boost from Lincoln National’s previous quarterly dividend of $0.29. Lincoln National’s dividend payout ratio is 18.15%.
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About Lincoln National
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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