IFM Investors Pty Ltd Raises Position in Lincoln National Co. (NYSE:LNC)

Posted by ABMN Staff on Aug 6th, 2022

IFM Investors Pty Ltd raised its holdings in Lincoln National Co. (NYSE:LNC – Get Rating) by 27.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,757 shares of the financial services provider’s stock after buying an additional 8,013 shares during the period. IFM Investors Pty Ltd’s holdings in Lincoln National were worth $2,402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LNC. Van ECK Associates Corp lifted its position in shares of Lincoln National by 37.6% during the 4th quarter. Van ECK Associates Corp now owns 1,875 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 512 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lincoln National during the 4th quarter worth $6,828,000. Yousif Capital Management LLC purchased a new stake in shares of Lincoln National during the 4th quarter worth $2,272,000. CWM LLC purchased a new stake in shares of Lincoln National during the 4th quarter worth $93,000. Finally, Xponance Inc. lifted its position in shares of Lincoln National by 18.2% during the 4th quarter. Xponance Inc. now owns 14,463 shares of the financial services provider’s stock worth $987,000 after purchasing an additional 2,228 shares during the last quarter. Hedge funds and other institutional investors own 86.40% of the company’s stock.

Lincoln National Trading Down 2.3 %

Shares of LNC opened at $45.94 on Friday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average is $49.90 and its two-hundred day moving average is $59.35. Lincoln National Co. has a twelve month low of $44.89 and a twelve month high of $77.57. The firm has a market capitalization of $7.90 billion, a P/E ratio of 9.57, a PEG ratio of 0.31 and a beta of 1.89.

Lincoln National (NYSE:LNC – Get Rating) last issued its earnings results on Wednesday, May 4th. The financial services provider reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.31). Lincoln National had a return on equity of 6.83% and a net margin of 4.45%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, research analysts predict that Lincoln National Co. will post 8.8 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were given a dividend of $0.45 per share. The ex-dividend date was Friday, July 8th. This represents a $1.80 annualized dividend and a yield of 3.92%. Lincoln National’s payout ratio is currently 37.50%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Lincoln National from $78.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, June 6th. Royal Bank of Canada reduced their price target on shares of Lincoln National from $71.00 to $57.00 in a research report on Friday. Morgan Stanley reduced their price target on shares of Lincoln National from $80.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Barclays dropped their price objective on shares of Lincoln National from $58.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lincoln National from $83.00 to $77.00 in a research note on Monday, July 11th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Lincoln National has an average rating of “Hold” and an average target price of $63.00.

Lincoln National Profile

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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 fixed, variable, and indexed variable annuities.