GSA Capital Partners LLP lessened its holdings in shares of Lincoln National Co. (NYSE:LNC) by 60.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,722 shares of the financial services provider’s stock after selling 10,187 shares during the period. GSA Capital Partners LLP’s holdings in Lincoln National were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Sun Life Financial INC increased its holdings in Lincoln National by 20,600.0% in the second quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock valued at $112,000 after buying an additional 1,648 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Lincoln National by 8.6% in the second quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock valued at $116,000 after buying an additional 136 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in Lincoln National in the third quarter valued at $171,000. Eqis Capital Management Inc. purchased a new position in Lincoln National in the third quarter valued at $227,000. Finally, Institute for Wealth Management LLC. purchased a new position in Lincoln National in the second quarter valued at $227,000. 80.32% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $89.00 price objective on shares of Lincoln National in a report on Friday, December 22nd. Royal Bank of Canada reissued a “buy” rating and set a $86.00 target price on shares of Lincoln National in a research note on Friday, December 8th. JPMorgan Chase & Co. raised shares of Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 target price for the company in a research note on Tuesday. Deutsche Bank started coverage on shares of Lincoln National in a research note on Tuesday. They set a “buy” rating and a $84.00 target price for the company. Finally, Zacks Investment Research cut shares of Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $82.09.
Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.19. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.62 billion. Lincoln National had a net margin of 11.83% and a return on equity of 10.38%. Lincoln National’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share. research analysts forecast that Lincoln National Co. will post 7.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, January 9th. This is a positive change from Lincoln National’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 1.70%. Lincoln National’s payout ratio is presently 18.10%.
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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