Assetmark Inc. boosted its holdings in Lincoln National Co. (NYSE:LNC) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,845 shares of the financial services provider’s stock after acquiring an additional 11,979 shares during the quarter. Assetmark Inc. owned 0.09% of Lincoln National worth $12,439,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. IFM Investors Pty Ltd increased its position in Lincoln National by 16.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 12,504 shares of the financial services provider’s stock valued at $846,000 after acquiring an additional 1,746 shares during the period. Tuttle Tactical Management acquired a new stake in Lincoln National in the 2nd quarter valued at approximately $997,000. Premier Fund Managers Ltd increased its position in Lincoln National by 5.3% in the 2nd quarter. Premier Fund Managers Ltd now owns 55,560 shares of the financial services provider’s stock valued at $3,458,000 after acquiring an additional 2,786 shares during the period. Rehmann Capital Advisory Group increased its position in Lincoln National by 983.6% in the 2nd quarter. Rehmann Capital Advisory Group now owns 7,553 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 6,856 shares during the period. Finally, Manning & Napier Group LLC increased its position in Lincoln National by 14.9% in the 3rd quarter. Manning & Napier Group LLC now owns 11,045 shares of the financial services provider’s stock valued at $747,000 after acquiring an additional 1,429 shares during the period. Hedge funds and other institutional investors own 80.85% of the company’s stock.
Shares of LNC stock opened at $56.40 on Friday. Lincoln National Co. has a 1 year low of $55.83 and a 1 year high of $86.68. The firm has a market cap of $12.71 billion, a PE ratio of 7.24 and a beta of 1.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.19 and a current ratio of 0.19.
Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, November 1st. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.17. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the firm earned $1.87 EPS. As a group, research analysts expect that Lincoln National Co. will post 8.56 earnings per share for the current year.
The business also recently announced 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 represents a $1.48 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Lincoln National’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, January 9th. Lincoln National’s payout ratio is presently 16.94%.
Several analysts recently commented on the company. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 13th. Morgan Stanley lowered their price target on Lincoln National from $76.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 13th. Deutsche Bank lowered their price target on Lincoln National from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, November 5th. Finally, Keefe, Bruyette & Woods upgraded Lincoln National from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Monday, November 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Lincoln National currently has an average rating of “Hold” and an average price target of $76.69.
In related news, EVP Jamie Ohl sold 2,152 shares of Lincoln National stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $58.00, for a total value of $124,816.00. Following the transaction, the executive vice president now directly owns 12,732 shares in the company, valued at approximately $738,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.12% of the company’s stock.
WARNING: This piece was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/12/08/assetmark-inc-has-12-44-million-position-in-lincoln-national-co-lnc.html.
About Lincoln National
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.
Further Reading: Average Daily Trade Volume Explained
Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.