Duncker Streett & Co. Inc. decreased its position in shares of Lincoln National Co. (NYSE:LNC) by 5.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,110 shares of the financial services provider’s stock after selling 300 shares during the period. Duncker Streett & Co. Inc.’s holdings in Lincoln National were worth $300,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of LNC. Gemmer Asset Management LLC lifted its holdings in shares of Lincoln National by 89.7% during the 1st quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock valued at $25,000 after buying an additional 200 shares during the period. NuWave Investment Management LLC increased its stake in shares of Lincoln National by 603.1% in the 1st quarter. NuWave Investment Management LLC now owns 450 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 386 shares in the last quarter. Horan Capital Advisors LLC. purchased a new stake in shares of Lincoln National in the 1st quarter worth $34,000. Proficio Capital Partners LLC increased its stake in shares of Lincoln National by 169.6% in the 4th quarter. Proficio Capital Partners LLC now owns 585 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 368 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in shares of Lincoln National by 718.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 753 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 84.44% of the company’s stock.
Several equities research analysts have recently commented on LNC shares. UBS Group upped their price objective on Lincoln National from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Monday. JPMorgan Chase & Co. set a $92.00 price target on Lincoln National and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.85.
In other Lincoln National news, EVP Jamie Ohl sold 7,263 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $61.70, for a total value of $448,127.10. Following the completion of the sale, the executive vice president now owns 23,159 shares of the company’s stock, valued at $1,428,910.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary C. Kelly sold 17,040 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $66.63, for a total transaction of $1,135,375.20. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
Shares of Lincoln National stock traded down $0.68 during trading on Wednesday, reaching $64.30. 860,892 shares of the stock traded hands, compared to its average volume of 1,710,501. The firm has a market cap of $12.95 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 0.77 and a beta of 1.95. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.34. Lincoln National Co. has a 52-week low of $48.07 and a 52-week high of $71.27.
Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $2.14 EPS for the quarter, beating the Zacks’ consensus estimate of $2.08 by $0.06. Lincoln National had a net margin of 9.02% and a return on equity of 12.32%. The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter last year, the firm earned $1.97 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities analysts expect that Lincoln National Co. will post 9.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Tuesday, April 9th. Lincoln National’s payout ratio is 17.45%.
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 Annuities segment offers variable, fixed, and indexed variable annuities.
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