Lincoln National Co. (LNC) Stake Decreased by Phillips Financial Management LLC
Phillips Financial Management LLC reduced its position in Lincoln National Co. (NYSE:LNC) by 4.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,120 shares of the financial services provider’s stock after selling 740 shares during the period. Phillips Financial Management LLC’s holdings in Lincoln National were worth $1,258,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in Lincoln National by 3,936.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,196,540 shares of the financial services provider’s stock worth $80,862,000 after buying an additional 1,166,893 shares during the last quarter. JPMorgan Chase & Co. raised its position in Lincoln National by 32.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock worth $239,047,000 after buying an additional 857,436 shares during the last quarter. Vanguard Group Inc. raised its position in Lincoln National by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,649,087 shares of the financial services provider’s stock worth $1,598,205,000 after buying an additional 764,714 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in Lincoln National by 91.2% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 1,573,659 shares of the financial services provider’s stock worth $106,347,000 after buying an additional 750,776 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Lincoln National by 90.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,117,085 shares of the financial services provider’s stock worth $75,493,000 after buying an additional 530,618 shares during the last quarter. Institutional investors and hedge funds own 80.44% of the company’s stock.
LNC has been the subject of a number of recent research reports. Barclays raised their price target on shares of Lincoln National from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. BidaskClub lowered shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Citigroup reaffirmed a “buy” rating and set a $83.00 target price (up from $82.00) on shares of Lincoln National in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.40.
Shares of Lincoln National Co. (LNC) traded up $0.59 during trading hours on Thursday, reaching $76.50. 1,227,100 shares of the company’s stock were exchanged, compared to its average volume of 1,478,140. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $16,611.34, a price-to-earnings ratio of 10.03, a PEG ratio of 1.14 and a beta of 2.01. Lincoln National Co. has a one year low of $61.45 and a one year high of $78.44.
Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.19. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.62 billion. Lincoln National had a net margin of 10.50% and a return on equity of 11.16%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. equities analysts forecast that Lincoln National Co. will post 7.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This is a positive change from Lincoln National’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 1.73%. Lincoln National’s dividend payout ratio is 18.15%.
Lincoln National 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.
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