Meadow Creek Investment Management LLC grew its holdings in Lincoln National Co. (NYSE:LNC) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,680 shares of the financial services provider’s stock after purchasing an additional 11,232 shares during the period. Meadow Creek Investment Management LLC owned approximately 0.08% of Lincoln National worth $14,119,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in LNC. LSV Asset Management raised its holdings in shares of Lincoln National by 1.7% during the fourth quarter. LSV Asset Management now owns 5,426,875 shares of the financial services provider’s stock worth $417,163,000 after acquiring an additional 88,897 shares in the last quarter. Lyrical Asset Management LP raised its holdings in shares of Lincoln National by 2.5% during the fourth quarter. Lyrical Asset Management LP now owns 4,417,721 shares of the financial services provider’s stock worth $339,590,000 after acquiring an additional 109,845 shares in the last quarter. Viking Global Investors LP raised its holdings in shares of Lincoln National by 119.3% during the fourth quarter. Viking Global Investors LP now owns 2,182,923 shares of the financial services provider’s stock worth $167,801,000 after acquiring an additional 1,187,323 shares in the last quarter. Cornerstone Investment Partners LLC raised its holdings in shares of Lincoln National by 53.5% during the fourth quarter. Cornerstone Investment Partners LLC now owns 1,481,014 shares of the financial services provider’s stock worth $113,846,000 after acquiring an additional 516,066 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Lincoln National by 16.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,323,021 shares of the financial services provider’s stock worth $101,701,000 after acquiring an additional 188,124 shares in the last quarter. Institutional investors own 82.30% of the company’s stock.
LNC has been the subject of several recent research reports. Royal Bank of Canada reiterated a “buy” rating and set a $86.00 price objective on shares of Lincoln National in a report on Friday, December 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $89.00 price objective on shares of Lincoln National in a report on Friday, December 22nd. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Wells Fargo & Co set a $80.00 price objective on Lincoln National and gave the stock a “hold” rating in a report on Thursday, November 16th. Finally, Deutsche Bank initiated coverage on Lincoln National in a report on Tuesday, January 2nd. They set a “buy” rating and a $84.00 price objective for the company. One 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 stock. The company has a consensus rating of “Hold” and a consensus price target of $83.33.
Lincoln National Co. (NYSE LNC) opened at $77.84 on Wednesday. Lincoln National Co. has a 1-year low of $61.45 and a 1-year high of $86.68. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $17,113.58, a PE ratio of 8.42, a price-to-earnings-growth ratio of 1.15 and a beta of 1.97.
Lincoln National (NYSE:LNC) last posted its earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.04. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the company earned $1.77 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. equities research analysts anticipate that Lincoln National Co. will post 8.5 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders 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 yield of 1.70%. Lincoln National’s dividend payout ratio (DPR) is currently 14.29%.
Lincoln National announced that its Board of Directors has initiated a stock buyback plan on Friday, January 19th that allows the company to repurchase outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
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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