Stone Ridge Asset Management LLC bought a new stake in Lincoln National Co. (NYSE:LNC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 36,499 shares of the financial services provider’s stock, valued at approximately $2,806,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rowland & Co. Investment Counsel ADV acquired a new stake in Lincoln National in the fourth quarter valued at approximately $108,000. Cerebellum GP LLC acquired a new stake in Lincoln National in the fourth quarter valued at approximately $123,000. Resources Investment Advisors Inc. boosted its stake in Lincoln National by 125.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,800 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 1,000 shares in the last quarter. Focused Wealth Management Inc acquired a new stake in Lincoln National in the fourth quarter valued at approximately $169,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Lincoln National in the third quarter valued at approximately $171,000. Institutional investors own 82.30% of the company’s stock.
Lincoln National Co. (NYSE:LNC) opened at $78.71 on Monday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.28. Lincoln National Co. has a fifty-two week low of $61.45 and a fifty-two week high of $86.68. The stock has a market cap of $17,179.05, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.97.
Lincoln National declared that its Board of Directors has initiated a stock buyback program on Friday, January 19th that allows the company to buyback shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.68%. Lincoln National’s dividend payout ratio (DPR) is presently 14.29%.
In related news, CEO Dennis R. Glass sold 102,367 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $84.71, for a total transaction of $8,671,508.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth S. Solon sold 1,875 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $78.53, for a total transaction of $147,243.75. Following the transaction, the executive vice president now directly owns 148,067 shares of the company’s stock, valued at approximately $11,627,701.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,199 shares of company stock valued at $12,108,644. 1.12% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on LNC shares. Barclays restated a “buy” rating and issued a $90.00 target price on shares of Lincoln National in a research note on Tuesday, January 9th. Zacks Investment Research raised shares of Lincoln National from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Monday, January 8th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $86.00 price target on shares of Lincoln National in a report on Friday, December 8th. Deutsche Bank initiated coverage on shares of Lincoln National in a report on Tuesday, January 2nd. They issued a “buy” rating and a $84.00 price target for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $89.00 price target on shares of Lincoln National in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $83.33.
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About Lincoln National
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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