Norges Bank Invests $76.95 Million in Lincoln National Co. (NYSE:LNC)

Norges Bank acquired a new stake in Lincoln National Co. (NYSE:LNC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,426,700 shares of the financial services provider's stock, valued at approximately $76,951,000. Norges Bank owned approximately 1.42% of Lincoln National at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Lincoln National by 1.3% in the 3rd quarter. State Street Corp now owns 6,227,993 shares of the financial services provider's stock valued at $196,244,000 after acquiring an additional 79,955 shares during the period. Geode Capital Management LLC grew its position in Lincoln National by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,373,487 shares of the financial services provider's stock worth $106,322,000 after purchasing an additional 152,622 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Lincoln National by 7.2% in the third quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider's stock valued at $104,281,000 after buying an additional 223,129 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Lincoln National by 9.7% during the third quarter. Two Sigma Advisers LP now owns 2,355,000 shares of the financial services provider's stock worth $74,206,000 after buying an additional 207,800 shares during the period. Finally, Hennessy Advisors Inc. purchased a new position in shares of Lincoln National during the fourth quarter worth about $54,189,000. Hedge funds and other institutional investors own 72.81% of the company's stock.

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Lincoln National Price Performance

LNC traded down $0.12 on Monday, hitting $29.86. 3,477,288 shares of the company were exchanged, compared to its average volume of 1,574,899. Lincoln National Co. has a fifty-two week low of $25.80 and a fifty-two week high of $39.85. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $5.09 billion, a P/E ratio of 1.62, a price-to-earnings-growth ratio of 0.30 and a beta of 1.56. The business's fifty day moving average is $36.34 and its 200 day moving average is $34.16.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.04. Lincoln National had a return on equity of 18.47% and a net margin of 17.76%. As a group, sell-side analysts anticipate that Lincoln National Co. will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend is Thursday, April 10th. Lincoln National's dividend payout ratio is currently 9.79%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Keefe, Bruyette & Woods upped their price objective on Lincoln National from $37.00 to $40.00 and gave the company a "market perform" rating in a research note on Wednesday, February 12th. Morgan Stanley upped their price target on Lincoln National from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Barclays lifted their price objective on shares of Lincoln National from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. UBS Group upped their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Lincoln National from $28.00 to $36.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Lincoln National has a consensus rating of "Hold" and a consensus price target of $37.45.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.