Nissay Asset Management Corp Japan ADV lessened its holdings in shares of Lincoln National Co. (NYSE:LNC) by 1.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 21,426 shares of the financial services provider’s stock after selling 391 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Lincoln National were worth $1,078,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in shares of Lincoln National by 10.8% during the third quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 900 shares in the last quarter. NEXT Financial Group Inc bought a new stake in shares of Lincoln National during the third quarter valued at approximately $27,000. Pinnacle Associates Ltd. raised its stake in shares of Lincoln National by 43.6% during the third quarter. Pinnacle Associates Ltd. now owns 24,615 shares of the financial services provider’s stock valued at $771,000 after acquiring an additional 7,470 shares in the last quarter. Ellevest Inc. raised its stake in shares of Lincoln National by 27.5% during the third quarter. Ellevest Inc. now owns 3,290 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 710 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT bought a new stake in shares of Lincoln National during the third quarter valued at approximately $258,000. Institutional investors and hedge funds own 76.74% of the company’s stock.
Several research firms have recently weighed in on LNC. Zacks Investment Research raised shares of Lincoln National from a “sell” rating to a “hold” rating and set a $51.00 price target for the company in a research note on Tuesday, January 5th. B. Riley lifted their price target on shares of Lincoln National from $35.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, January 7th. Royal Bank of Canada boosted their price objective on shares of Lincoln National from $43.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Friday, February 5th. They noted that the move was a valuation call. Barclays assumed coverage on shares of Lincoln National in a research note on Tuesday, November 17th. They issued an “equal weight” rating and a $44.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Lincoln National in a research note on Friday, December 4th. They issued a “buy” rating and a $59.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $49.67.
Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Tuesday, February 2nd. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.15). The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a return on equity of 5.09% and a net margin of 4.28%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 earnings per share. On average, equities analysts forecast that Lincoln National Co. will post 4.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Monday, April 12th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, April 9th. Lincoln National’s payout ratio is presently 19.31%.
In other news, insider Wilford H. Fuller sold 110,375 shares of the business’s stock in a transaction on Wednesday, December 2nd. The shares were sold at an average price of $50.95, for a total transaction of $5,623,606.25. Following the sale, the insider now directly owns 286,489 shares of the company’s stock, valued at $14,596,614.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wilford H. Fuller sold 25,000 shares of the business’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $52.77, for a total transaction of $1,319,250.00. Following the sale, the insider now directly owns 207,130 shares in the company, valued at $10,930,250.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 151,015 shares of company stock worth $7,781,116. Insiders own 1.50% of the company’s stock.
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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