Investors Asset Management of Georgia Inc. GA ADV Buys New Position in Lincoln National Co. (LNC)
Investors Asset Management of Georgia Inc. GA ADV bought a new stake in Lincoln National Co. (NYSE:LNC) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,800 shares of the financial services provider’s stock, valued at approximately $223,000.
Other hedge funds also recently bought and sold shares of the company. Gemmer Asset Management LLC raised its stake in shares of Lincoln National by 89.7% during the first quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. NuWave Investment Management LLC raised its position in Lincoln National by 603.1% in the first quarter. NuWave Investment Management LLC now owns 450 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 386 shares in the last quarter. Proficio Capital Partners LLC raised its position in Lincoln National by 169.6% in the fourth quarter. Proficio Capital Partners LLC now owns 585 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 368 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in Lincoln National by 718.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 753 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 661 shares in the last quarter. Finally, Lindbrook Capital LLC bought a new stake in Lincoln National in the fourth quarter worth about $44,000. Institutional investors own 84.14% of the company’s stock.
Several brokerages have commented on LNC. UBS Group boosted their price target on shares of Lincoln National from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. Zacks Investment Research cut Lincoln National from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Finally, Wells Fargo & Co began coverage on Lincoln National in a research note on Tuesday, January 8th. They issued a “market perform” rating and a $63.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Lincoln National presently has an average rating of “Hold” and an average price target of $73.08.
Lincoln National (NYSE:LNC) last released its earnings results on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.02. The company 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 business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 EPS. On average, equities research analysts anticipate that Lincoln National Co. will post 9.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.48 annualized dividend and a dividend yield of 2.24%. Lincoln National’s dividend payout ratio is 17.45%.
In other news, CEO Dennis R. Glass sold 10,000 shares of Lincoln National stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $60.49, for a total transaction of $604,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jamie Ohl sold 7,263 shares of Lincoln National stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $61.70, for a total value of $448,127.10. Following the sale, the executive vice president now owns 23,159 shares of the company’s stock, valued at $1,428,910.30. The disclosure for this sale can be found here. 6.31% of the stock is owned by insiders.
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Lincoln National 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 Annuities segment offers variable, fixed, and indexed variable annuities.
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