Swiss National Bank Has $42.92 Million Stake in Lincoln National Co. (NYSE:LNC)
Swiss National Bank decreased its position in Lincoln National Co. (NYSE:LNC) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 665,964 shares of the financial services provider’s stock after selling 47,700 shares during the quarter. Swiss National Bank’s holdings in Lincoln National were worth $42,921,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of LNC. Dimensional Fund Advisors LP increased its holdings in shares of Lincoln National by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,216,834 shares of the financial services provider’s stock valued at $113,748,000 after purchasing an additional 57,696 shares during the period. Geode Capital Management LLC increased its holdings in shares of Lincoln National by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 2,898,554 shares of the financial services provider’s stock valued at $148,472,000 after purchasing an additional 197,294 shares during the period. Virtu Financial LLC acquired a new position in shares of Lincoln National during the first quarter valued at $414,000. Wedbush Securities Inc. acquired a new position in shares of Lincoln National during the first quarter valued at $202,000. Finally, Brookstone Capital Management acquired a new position in shares of Lincoln National during the first quarter valued at $221,000. 80.26% of the stock is currently owned by institutional investors.
LNC stock traded up $0.56 during trading hours on Wednesday, hitting $53.73. 8,362 shares of the stock traded hands, compared to its average volume of 1,781,966. The stock has a 50-day simple moving average of $61.89 and a 200 day simple moving average of $62.49. Lincoln National Co. has a one year low of $48.07 and a one year high of $71.27. The company has a market cap of $10.75 billion, a P/E ratio of 6.33, a P/E/G ratio of 0.64 and a beta of 1.91. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.30.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, October 9th. This represents a $1.48 annualized dividend and a yield of 2.75%. Lincoln National’s dividend payout ratio is currently 17.45%.
In related news, CAO Christine A. Janofsky sold 7,928 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.62, for a total transaction of $496,451.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Buckingham sold 8,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.70, for a total value of $532,950.00. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
A number of research analysts have recently commented on LNC shares. ValuEngine lowered Lincoln National from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Barclays set a $69.00 price target on Lincoln National and gave the company a “buy” rating in a report on Monday, August 12th. Morgan Stanley lowered their price target on Lincoln National from $76.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, Goldman Sachs Group raised Lincoln National from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $77.00 in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, four 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 $75.10.
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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