Fox Run Management L.L.C. bought a new position in Lincoln National Co. (NYSE:LNC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 28,844 shares of the financial services provider's stock, valued at approximately $915,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new stake in Lincoln National during the 4th quarter worth $54,189,000. Raymond James Financial Inc. acquired a new stake in Lincoln National during the fourth quarter valued at approximately $8,155,000. Principal Financial Group Inc. raised its position in shares of Lincoln National by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider's stock valued at $104,281,000 after acquiring an additional 223,129 shares in the last quarter. Two Sigma Advisers LP lifted its stake in 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 purchasing an additional 207,800 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Lincoln National by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider's stock valued at $150,104,000 after buying an additional 193,025 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on LNC. 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. Wells Fargo & Company raised their price target on Lincoln National from $28.00 to $36.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods upped their price objective on shares of Lincoln National from $37.00 to $40.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. TD Cowen increased their price target on Lincoln National from $34.00 to $37.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley lifted their price objective on shares of Lincoln National from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $37.40.
Get Our Latest Analysis on Lincoln National
Lincoln National Stock Down 1.6 %
LNC stock traded down $0.59 during midday trading on Thursday, reaching $36.81. The company had a trading volume of 1,444,656 shares, compared to its average volume of 1,486,808. The company has a market capitalization of $6.27 billion, a P/E ratio of 2.00, a PEG ratio of 0.30 and a beta of 1.76. Lincoln National Co. has a 1 year low of $25.80 and a 1 year high of $39.85. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $36.16 and a two-hundred day moving average of $33.87.
Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.04. Lincoln National had a net margin of 17.76% and a return on equity of 18.47%. On average, equities research analysts expect that Lincoln National Co. will post 7.69 earnings per share for the current fiscal year.
Lincoln National Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.89%. The ex-dividend date is Thursday, April 10th. Lincoln National's payout ratio is 9.79%.
Lincoln National Company Profile
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Free Report)
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.
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