Allianz Asset Management GmbH cut its position in Lincoln National Co. (NYSE:LNC) by 46.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 516,096 shares of the financial services provider’s stock after selling 448,784 shares during the period. Allianz Asset Management GmbH owned 0.24% of Lincoln National worth $34,919,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new position in shares of Lincoln National during the third quarter worth approximately $135,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Lincoln National during the second quarter worth approximately $128,000. Twin Tree Management LP acquired a new position in shares of Lincoln National during the third quarter worth approximately $151,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Lincoln National by 82.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,318 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Lincoln National during the third quarter worth approximately $167,000. Hedge funds and other institutional investors own 82.85% of the company’s stock.
A number of brokerages have recently issued reports on LNC. Zacks Investment Research upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, October 8th. UBS Group upped their target price on shares of Lincoln National from $73.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, October 8th. B. Riley upped their target price on shares of Lincoln National from $79.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 22nd. Finally, Credit Suisse Group reduced their target price on shares of Lincoln National from $74.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Lincoln National presently has a consensus rating of “Hold” and a consensus price target of $76.69.
Shares of NYSE LNC opened at $62.97 on Monday. Lincoln National Co. has a fifty-two week low of $57.06 and a fifty-two week high of $86.68. The company has a market capitalization of $13.45 billion, a P/E ratio of 8.08 and a beta of 1.90. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.39.
Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, November 1st. The financial services provider reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.17. Lincoln National had a net margin of 13.14% and a return on equity of 11.61%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same period in the prior year, the business posted $1.87 earnings per share. Lincoln National’s revenue was up 21.4% compared to the same quarter last year. Research analysts predict that Lincoln National Co. will post 8.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be issued a $0.37 dividend. This is a positive change from Lincoln National’s previous quarterly dividend of $0.33. This represents a $1.48 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, January 9th. Lincoln National’s dividend payout ratio is currently 16.94%.
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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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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