OppenheimerFunds Inc. decreased its holdings in Lincoln National Co. (NYSE:LNC) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 586,108 shares of the financial services provider’s stock after selling 21,384 shares during the quarter. OppenheimerFunds Inc. owned approximately 0.29% of Lincoln National worth $34,405,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Gemmer Asset Management LLC lifted its stake in shares of Lincoln National by 89.7% in the first quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. NuWave Investment Management LLC raised its stake in Lincoln National by 603.1% during the first quarter. NuWave Investment Management LLC now owns 450 shares of the financial services provider’s stock valued at $26,000 after buying an additional 386 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Lincoln National by 169.6% during the fourth quarter. Proficio Capital Partners LLC now owns 585 shares of the financial services provider’s stock valued at $30,000 after buying an additional 368 shares in the last quarter. Horan Capital Advisors LLC. acquired a new stake in Lincoln National during the first quarter valued at approximately $34,000. Finally, Lindbrook Capital LLC acquired a new stake in Lincoln National during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 80.64% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Monday, May 20th. JPMorgan Chase & Co. set a $92.00 price objective on Lincoln National and gave the company a “buy” rating in a research note on Thursday, May 2nd. UBS Group upped their price objective on Lincoln National from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Finally, ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Lincoln National presently has a consensus rating of “Hold” and an average price target of $75.85.
In other news, EVP Jamie Ohl sold 7,263 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $61.70, for a total transaction of $448,127.10. Following the completion of the transaction, the executive vice president now directly owns 23,159 shares of the company’s stock, valued at $1,428,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary C. Kelly sold 17,040 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $66.63, for a total value of $1,135,375.20. The disclosure for this sale can be found here. Insiders have sold 36,041 shares of company stock valued at $2,339,312 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.
Shares of NYSE:LNC traded down $1.07 during trading on Wednesday, hitting $63.06. 47,332 shares of the company traded hands, compared to its average volume of 1,685,883. The firm has a market capitalization of $12.90 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 0.75 and a beta of 1.93. Lincoln National Co. has a one year low of $48.07 and a one year high of $71.27. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.34.
Lincoln National (NYSE:LNC) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $2.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.08 by $0.06. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.25 billion. Lincoln National had a return on equity of 12.32% and a net margin of 9.02%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.97 earnings per share. As a group, analysts predict that Lincoln National Co. will post 9.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, July 9th. Lincoln National’s dividend payout ratio (DPR) is presently 17.45%.
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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 Annuities segment offers variable, fixed, and indexed variable annuities.
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