Summit Securities Group LLC Takes $571,000 Position in Lincoln National Co. (NYSE:LNC)

Summit Securities Group LLC purchased a new stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 18,000 shares of the financial services provider's stock, valued at approximately $571,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Lincoln National in the 4th quarter worth $76,951,000. Hennessy Advisors Inc. acquired a new stake in Lincoln National during the 4th quarter worth about $54,189,000. Arrowstreet Capital Limited Partnership lifted its stake in Lincoln National by 84.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider's stock valued at $48,948,000 after buying an additional 708,584 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Lincoln National by 190.9% in the fourth quarter. LPL Financial LLC now owns 741,330 shares of the financial services provider's stock worth $23,508,000 after buying an additional 486,478 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Lincoln National in the fourth quarter worth approximately $8,155,000. Institutional investors own 72.81% of the company's stock.

Lincoln National Stock Performance

Shares of LNC traded down $2.80 during trading hours on Thursday, reaching $34.47. 1,368,411 shares of the company traded hands, compared to its average volume of 1,823,896. Lincoln National Co. has a 1-year low of $25.80 and a 1-year high of $39.85. The stock has a market cap of $5.87 billion, a P/E ratio of 1.88, a price-to-earnings-growth ratio of 0.30 and a beta of 1.55. The stock's fifty day moving average is $36.49 and its 200 day moving average is $34.13. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.27 and a current ratio of 0.27.

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

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 dividend on an annualized basis and a yield of 5.22%. Lincoln National's dividend payout ratio is currently 9.79%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group raised their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday. Barclays lifted their price target on Lincoln National from $36.00 to $38.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Morgan Stanley increased their price objective 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. Wells Fargo & Company raised their price objective 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. Finally, Evercore ISI upped their target price on Lincoln National from $41.00 to $44.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $37.45.

Lincoln National Profile

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.