Jupiter Asset Management Ltd. reduced its stake in Lincoln National Co. (NYSE:LNC - Free Report) by 33.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 429,732 shares of the financial services provider's stock after selling 217,026 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.25% of Lincoln National worth $13,627,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Sigma Planning Corp lifted its position in shares of Lincoln National by 5.4% in the third quarter. Sigma Planning Corp now owns 27,780 shares of the financial services provider's stock worth $875,000 after buying an additional 1,435 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Lincoln National by 459.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider's stock worth $66,000 after acquiring an additional 1,711 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Lincoln National during the 3rd quarter worth approximately $259,000. Entropy Technologies LP boosted its position in shares of Lincoln National by 262.6% during the 3rd quarter. Entropy Technologies LP now owns 25,724 shares of the financial services provider's stock valued at $811,000 after acquiring an additional 18,630 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in shares of Lincoln National by 334.3% in the third quarter. GSA Capital Partners LLP now owns 66,662 shares of the financial services provider's stock valued at $2,101,000 after purchasing an additional 51,313 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.
Lincoln National Trading Up 4.7 %
LNC stock traded up $1.60 during trading on Friday, hitting $36.06. The company had a trading volume of 1,543,683 shares, compared to its average volume of 1,470,844. Lincoln National Co. has a 52-week low of $25.80 and a 52-week high of $39.85. The company has a 50 day simple moving average of $35.28 and a 200-day simple moving average of $33.57. The firm has a market capitalization of $6.15 billion, a P/E ratio of 1.96, a PEG ratio of 0.30 and a beta of 1.76. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.80.
Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results 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%. As a group, research analysts forecast that Lincoln National Co. will post 7.69 earnings per share for the current fiscal year.
Lincoln National Announces Dividend
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 paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.99%. Lincoln National's dividend payout ratio is currently 9.79%.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Lincoln National from $39.00 to $42.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Barclays boosted their target price on 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 stock an "equal weight" rating in a research report on Wednesday, February 19th. Evercore ISI boosted their price objective on shares of Lincoln National from $41.00 to $44.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Finally, TD Cowen raised their target price on shares of Lincoln National from $34.00 to $37.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. One investment 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 MarketBeat.com, Lincoln National currently has an average rating of "Hold" and an average price target of $37.40.
Get Our Latest Stock Report on Lincoln National
About Lincoln National
(
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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