Lincoln National Co. (LNC) Shares Bought by Stifel Financial Corp
Stifel Financial Corp increased its holdings in shares of Lincoln National Co. (NYSE:LNC) by 6.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 42,467 shares of the financial services provider’s stock after purchasing an additional 2,649 shares during the period. Stifel Financial Corp’s holdings in Lincoln National were worth $3,119,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of LNC. Vanguard Group Inc. boosted its holdings in shares of 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 worth $1,598,205,000 after acquiring an additional 764,714 shares during the period. BlackRock Inc. boosted its holdings in shares of Lincoln National by 1.9% during the second quarter. BlackRock Inc. now owns 18,774,399 shares of the financial services provider’s stock worth $1,268,774,000 after acquiring an additional 355,633 shares during the period. FMR LLC boosted its holdings in shares of Lincoln National by 1.3% during the second quarter. FMR LLC now owns 7,470,115 shares of the financial services provider’s stock worth $504,830,000 after acquiring an additional 95,605 shares during the period. LSV Asset Management boosted its holdings in shares of Lincoln National by 3.8% during the second quarter. LSV Asset Management now owns 5,157,271 shares of the financial services provider’s stock worth $348,528,000 after acquiring an additional 187,800 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of 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 worth $239,047,000 after acquiring an additional 857,436 shares during the period. Institutional investors and hedge funds own 80.32% of the company’s stock.
LNC has been the subject of a number of research analyst reports. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub downgraded shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Morgan Stanley lifted their price target on shares of Lincoln National from $77.00 to $79.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Citigroup reiterated a “buy” rating and issued a $83.00 price target (up from $82.00) on shares of Lincoln National in a research report on Thursday, September 14th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $86.00 price target on shares of Lincoln National in a research report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Lincoln National currently has an average rating of “Hold” and an average target price of $78.70.
Lincoln National (NYSE:LNC) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.19. Lincoln National had a net margin of 10.50% and a return on equity of 11.16%. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. analysts predict that Lincoln National Co. will post 7.7 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from Lincoln National’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, January 9th. Lincoln National’s payout ratio is presently 18.15%.
Lincoln National 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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