Tuttle Tactical Management LLC purchased a new position in Lincoln National Co. (NYSE:LNC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 18,799 shares of the financial services provider’s stock, valued at approximately $1,445,000. Lincoln National accounts for approximately 1.8% of Tuttle Tactical Management LLC’s investment portfolio, making the stock its 18th largest holding.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Lombard Odier Asset Management Switzerland SA lifted its position in shares of Lincoln National by 2.9% in the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 24,219 shares of the financial services provider’s stock worth $1,862,000 after purchasing an additional 674 shares during the period. BB&T Securities LLC lifted its position in Lincoln National by 4.9% during the fourth quarter. BB&T Securities LLC now owns 15,658 shares of the financial services provider’s stock valued at $1,203,000 after acquiring an additional 736 shares during the last quarter. Corient Capital Partners LLC lifted its position in Lincoln National by 2.0% during the fourth quarter. Corient Capital Partners LLC now owns 40,851 shares of the financial services provider’s stock valued at $3,140,000 after acquiring an additional 811 shares during the last quarter. Dorsey Wright & Associates lifted its position in Lincoln National by 2.8% during the fourth quarter. Dorsey Wright & Associates now owns 30,522 shares of the financial services provider’s stock valued at $2,346,000 after acquiring an additional 823 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in Lincoln National by 13.0% during the fourth quarter. Raymond James Trust N.A. now owns 7,167 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 826 shares during the last quarter. 82.33% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. Barclays reissued a “buy” rating and set a $90.00 target price on shares of Lincoln National in a research report on Tuesday, January 9th. ValuEngine raised shares of Lincoln National from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. Deutsche Bank assumed coverage on shares of Lincoln National in a research report on Tuesday, January 2nd. They set a “buy” rating and a $84.00 target price for the company. 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 report on Tuesday, January 2nd. Finally, Zacks Investment Research cut shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $83.33.
In other news, CFO Randal J. Freitag sold 31,657 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $84.32, for a total value of $2,669,318.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Buckingham sold 24,537 shares of the stock in a transaction on 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 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 valued at $14,032,099. Corporate insiders own 1.12% of the company’s stock.
Lincoln National stock opened at $77.20 on Thursday. The stock has a market cap of $16,709.80, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 1.13 and a beta of 1.97. Lincoln National Co. has a fifty-two week low of $61.45 and a fifty-two week high of $86.68. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.28.
Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.04. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $1.77 earnings per share. sell-side analysts expect that Lincoln National Co. will post 8.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued a $0.33 dividend. The ex-dividend date is Monday, April 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.71%. Lincoln National’s dividend payout ratio is currently 14.29%.
Lincoln National announced that its board has authorized a share buyback program on Friday, January 19th that allows the company to repurchase outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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Lincoln National 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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