Jupiter Asset Management Ltd. acquired a new position in shares of Lincoln National Co. (NYSE:LNC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 217,325 shares of the financial services provider’s stock, valued at approximately $13,525,000. Jupiter Asset Management Ltd. owned approximately 0.11% of Lincoln National at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of LNC. Norges Bank purchased a new position in shares of Lincoln National during the 4th quarter worth approximately $111,993,000. Amundi Pioneer Asset Management Inc. grew its stake in Lincoln National by 51.5% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,386,131 shares of the financial services provider’s stock worth $69,736,000 after acquiring an additional 471,016 shares during the period. Cibc World Markets Corp grew its stake in Lincoln National by 602.8% in the 4th quarter. Cibc World Markets Corp now owns 448,409 shares of the financial services provider’s stock worth $22,559,000 after acquiring an additional 384,603 shares during the period. Nuveen Asset Management LLC grew its stake in Lincoln National by 38.9% in the 4th quarter. Nuveen Asset Management LLC now owns 971,083 shares of the financial services provider’s stock worth $48,856,000 after acquiring an additional 272,103 shares during the period. Finally, Ninety One UK Ltd grew its stake in Lincoln National by 42.5% in the 1st quarter. Ninety One UK Ltd now owns 866,405 shares of the financial services provider’s stock worth $53,951,000 after acquiring an additional 258,461 shares during the period. 76.76% of the stock is owned by institutional investors and hedge funds.
NYSE LNC opened at $66.97 on Friday. The stock has a 50-day moving average price of $66.71. The company has a market cap of $12.75 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 0.20 and a beta of 2.26. Lincoln National Co. has a 52 week low of $29.42 and a 52 week high of $71.68. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.32.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Monday, July 12th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, July 9th. Lincoln National’s dividend payout ratio is presently 37.75%.
Several brokerages have recently issued reports on LNC. Zacks Investment Research raised shares of Lincoln National from a “sell” rating to a “hold” rating and set a $66.00 price objective for the company in a research note on Tuesday, April 6th. Barclays lifted their target price on shares of Lincoln National from $61.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, April 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. boosted their price objective on shares of Lincoln National from $63.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, April 5th. Royal Bank of Canada boosted their target price on shares of Lincoln National from $59.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Friday, May 7th. Finally, Citigroup boosted their price objective on shares of Lincoln National from $57.00 to $67.00 in a research report on Wednesday, March 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Lincoln National currently has a consensus rating of “Hold” and a consensus price target of $61.21.
Lincoln National Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.
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