LSV Asset Management Sells 56,426 Shares of Lincoln National Co. (LNC)
LSV Asset Management cut its stake in shares of Lincoln National Co. (NYSE:LNC) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,615,525 shares of the financial services provider’s stock after selling 56,426 shares during the quarter. LSV Asset Management’s holdings in Lincoln National were worth $288,132,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in LNC. IFM Investors Pty Ltd lifted its holdings in Lincoln National by 16.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 12,504 shares of the financial services provider’s stock worth $846,000 after purchasing an additional 1,746 shares in the last quarter. Manning & Napier Group LLC lifted its holdings in Lincoln National by 14.9% in the 3rd quarter. Manning & Napier Group LLC now owns 11,045 shares of the financial services provider’s stock worth $747,000 after purchasing an additional 1,429 shares in the last quarter. Man Group plc lifted its holdings in Lincoln National by 34.1% in the 3rd quarter. Man Group plc now owns 544,460 shares of the financial services provider’s stock worth $36,838,000 after purchasing an additional 138,399 shares in the last quarter. Bach Investment Advisors Ltd purchased a new position in Lincoln National in the 4th quarter worth approximately $371,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Lincoln National by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 38,493 shares of the financial services provider’s stock worth $2,604,000 after purchasing an additional 2,104 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.
LNC has been the topic of a number of research analyst reports. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, December 17th. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 13th. Bank of America lowered their price target on Lincoln National from $79.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Finally, Deutsche Bank lowered their price target on Lincoln National from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, November 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.69.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.02. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Lincoln National had a return on equity of 12.41% and a net margin of 9.92%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.98 EPS. As a group, equities analysts forecast that Lincoln National Co. will post 9.2 EPS for the current fiscal year.
In other news, EVP Jamie Ohl sold 2,152 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $58.00, for a total transaction of $124,816.00. Following the sale, the executive vice president now directly owns 12,732 shares of the company’s stock, valued at approximately $738,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.31% of the stock is owned by corporate insiders.
Lincoln National Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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