Public Employees Retirement Association of Colorado Increases Stake in Lincoln National Co. (LNC)
Public Employees Retirement Association of Colorado grew its position in Lincoln National Co. (NYSE:LNC) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,075 shares of the financial services provider’s stock after purchasing an additional 1,311 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Lincoln National were worth $3,388,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Lincoln National in the fourth quarter worth about $464,000. Aperio Group LLC boosted its stake in shares of Lincoln National by 2.5% in the fourth quarter. Aperio Group LLC now owns 302,754 shares of the financial services provider’s stock worth $23,273,000 after buying an additional 7,276 shares during the last quarter. Telemus Capital LLC boosted its stake in shares of Lincoln National by 5.9% in the fourth quarter. Telemus Capital LLC now owns 16,184 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 902 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Lincoln National by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 82,945 shares of the financial services provider’s stock worth $6,376,000 after buying an additional 1,428 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Lincoln National in the fourth quarter worth about $669,000. 80.50% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on LNC shares. Goldman Sachs Group started coverage on Lincoln National in a research note on Wednesday, October 18th. They issued a “sell” rating and a $71.00 target price on the stock. Morgan Stanley upped their target price on Lincoln National from $77.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. B. Riley restated a “neutral” rating on shares of Lincoln National in a research note on Monday, November 6th. ValuEngine downgraded Lincoln National from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, Wells Fargo & Co set a $80.00 target price on Lincoln National and gave the stock a “hold” rating in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Lincoln National presently has a consensus rating of “Buy” and an average price target of $83.27.
Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.04. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.65 billion. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. Lincoln National’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.77 earnings per share. equities analysts forecast that Lincoln National Co. will post 8.54 EPS for the current fiscal year.
Lincoln National declared that its Board of Directors has initiated a share repurchase program on Friday, January 19th that allows the company to buyback outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other Lincoln National news, CEO Dennis R. Glass sold 102,367 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $84.71, for a total transaction of $8,671,508.57. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Randal J. Freitag sold 31,657 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $84.32, for a total value of $2,669,318.24. The disclosure for this sale can be found here. Insiders have sold 141,324 shares of company stock worth $11,961,400 in the last quarter. 1.12% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Co. (NYSE:LNC).
Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.