Caisse DE Depot ET Placement DU Quebec decreased its position in shares of Lincoln National Co. (NYSE:LNC) by 16.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,701 shares of the financial services provider’s stock after selling 8,800 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Lincoln National were worth $3,436,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Lombard Odier Asset Management Switzerland SA boosted its holdings in shares of Lincoln National by 2.9% during the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 24,219 shares of the financial services provider’s stock valued at $1,862,000 after acquiring an additional 674 shares during the period. Corient Capital Partners LLC boosted its holdings in shares of Lincoln National by 2.0% during the fourth quarter. Corient Capital Partners LLC now owns 40,851 shares of the financial services provider’s stock valued at $3,140,000 after acquiring an additional 811 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Lincoln National by 13.0% during the fourth quarter. Raymond James Trust N.A. now owns 7,167 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 826 shares during the period. M&T Bank Corp boosted its holdings in shares of Lincoln National by 2.2% during the fourth quarter. M&T Bank Corp now owns 39,991 shares of the financial services provider’s stock valued at $3,074,000 after acquiring an additional 861 shares during the period. Finally, Telemus Capital LLC boosted its holdings in shares of Lincoln National by 5.9% during the fourth quarter. Telemus Capital LLC now owns 16,184 shares of the financial services provider’s stock valued at $1,244,000 after acquiring an additional 902 shares during the period. 82.30% of the stock is owned by institutional investors.
In other Lincoln National news, EVP Ellen Cooper sold 7,300 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $85.01, for a total value of $620,573.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dennis R. Glass sold 102,367 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $84.71, for a total transaction of $8,671,508.57. The disclosure for this sale can be found here. Insiders sold a total of 143,199 shares of company stock valued at $12,108,644 over the last three months. 1.12% of the stock is owned by corporate insiders.
Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.04. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.65 billion. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 earnings per share. analysts forecast that Lincoln National Co. will post 8.5 EPS for the current fiscal year.
Lincoln National announced that its Board of Directors has authorized a share buyback plan on Friday, January 19th that allows the company to repurchase shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, April 9th. Lincoln National’s payout ratio is currently 14.32%.
Several equities analysts have recently issued reports on LNC shares. Barclays reissued a “buy” rating and set a $90.00 price target on shares of Lincoln National in a report on Tuesday, January 9th. Royal Bank of Canada reissued a “buy” rating and set a $86.00 price target on shares of Lincoln National in a report on Friday, December 8th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $89.00 price target on shares of Lincoln National in a report on Friday, December 22nd. 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. Finally, 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 objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $83.33.
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Lincoln National Company 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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