Nordea Investment Management AB raised its stake in shares of Lincoln National Corporation (NYSE:LNC) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,836 shares of the financial services provider’s stock after acquiring an additional 3,350 shares during the quarter. Nordea Investment Management AB’s holdings in Lincoln National were worth $3,588,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in shares of Lincoln National by 133.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 296,542 shares of the financial services provider’s stock valued at $20,043,000 after purchasing an additional 169,745 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Lincoln National by 65.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 35,932 shares of the financial services provider’s stock valued at $2,428,000 after purchasing an additional 14,215 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Lincoln National by 23.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 267,034 shares of the financial services provider’s stock valued at $18,028,000 after purchasing an additional 49,878 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of Lincoln National during the 2nd quarter valued at $200,000. Finally, Korea Investment CORP lifted its holdings in shares of Lincoln National by 3.9% during the 2nd quarter. Korea Investment CORP now owns 433,895 shares of the financial services provider’s stock valued at $29,323,000 after purchasing an additional 16,202 shares during the last quarter. 80.44% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. Barclays increased their price objective on Lincoln National from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Tuesday, August 8th. ValuEngine lowered Lincoln National from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Royal Bank Of Canada reiterated a “buy” rating and set a $83.00 price objective on shares of Lincoln National in a report on Tuesday, October 10th. Finally, BidaskClub lowered Lincoln National from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $78.40.
Lincoln National (NYSE:LNC) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.19. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.62 billion. Lincoln National had a return on equity of 11.16% and a net margin of 10.50%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $1.89 EPS. equities analysts predict that Lincoln National Corporation will post 7.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.33 dividend. This is a positive change from Lincoln National’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, January 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.73%. Lincoln National’s dividend payout ratio (DPR) is 18.15%.
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Lincoln National Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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