Geode Capital Management LLC trimmed its stake in Lincoln National Co. (NYSE:LNC) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,347,879 shares of the financial services provider’s stock after selling 3,248 shares during the quarter. Geode Capital Management LLC owned about 1.07% of Lincoln National worth $180,101,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Rowland & Co. Investment Counsel ADV acquired a new stake in Lincoln National in the fourth quarter worth $108,000. Cerebellum GP LLC acquired a new position in shares of Lincoln National during the fourth quarter valued at about $123,000. Resources Investment Advisors Inc. grew its holdings in shares of Lincoln National by 125.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,800 shares of the financial services provider’s stock valued at $138,000 after buying an additional 1,000 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Lincoln National during the third quarter valued at about $171,000. Finally, NuWave Investment Management LLC acquired a new position in shares of Lincoln National during the fourth quarter valued at about $180,000. Institutional investors and hedge funds own 82.30% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Wells Fargo & Co set a $80.00 price objective on shares of Lincoln National and gave the company a “hold” rating in a report on Thursday, November 16th. Barclays reiterated a “buy” rating and set a $90.00 price objective on shares of Lincoln National in a report on Tuesday, January 9th. JPMorgan Chase & Co. upgraded shares of Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 price objective for the company in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $89.00 price objective on shares of Lincoln National in a report on Friday, December 22nd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $86.00 price objective on shares of Lincoln National in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $83.33.
Lincoln National Co. (NYSE LNC) traded down $1.58 on Wednesday, hitting $76.27. 762,865 shares of the company were exchanged, compared to its average volume of 1,590,000. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.10 and a quick ratio of 0.10. Lincoln National Co. has a one year low of $61.45 and a one year high of $86.68. The company has a market capitalization of $16,650.00, a price-to-earnings ratio of 8.27, a P/E/G ratio of 1.15 and a beta of 1.97.
Lincoln National (NYSE:LNC) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.04. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.65 billion. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $1.77 earnings per share. analysts predict that Lincoln National Co. will post 8.5 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.73%. The ex-dividend date is Monday, April 9th. Lincoln National’s dividend payout ratio is 14.32%.
Lincoln National announced that its Board of Directors has approved a stock repurchase program on Friday, January 19th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other Lincoln National news, EVP Kenneth S. Solon sold 1,875 shares of Lincoln National stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $78.53, for a total value of $147,243.75. Following the sale, the executive vice president now owns 148,067 shares of the company’s stock, valued at $11,627,701.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Buckingham sold 24,537 shares of Lincoln National stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $78.39, for a total transaction of $1,923,455.43. Following the completion of the sale, the executive vice president now directly owns 77,135 shares in the company, valued at approximately $6,046,612.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,736 shares of company stock worth $14,032,099. Insiders own 1.12% of the company’s stock.
About Lincoln National
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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