Skandinaviska Enskilda Banken AB publ decreased its stake in Lincoln National Co. (NYSE:LNC – Get Rating) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,242 shares of the financial services provider’s stock after selling 646 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Lincoln National were worth $868,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH acquired a new stake in shares of Lincoln National during the fourth quarter valued at about $26,000. Achmea Investment Management B.V. acquired a new stake in shares of Lincoln National during the first quarter valued at about $30,000. Ronald Blue Trust Inc. boosted its stake in shares of Lincoln National by 134.2% during the fourth quarter. Ronald Blue Trust Inc. now owns 712 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 408 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Lincoln National during the fourth quarter valued at about $31,000. Finally, General Partner Inc. bought a new stake in shares of Lincoln National in the fourth quarter worth $36,000. Institutional investors own 78.00% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on LNC. JPMorgan Chase & Co. reduced their price objective on shares of Lincoln National from $36.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 4th. StockNews.com assumed coverage on shares of Lincoln National in a research note on Thursday, March 16th. They issued a “sell” rating on the stock. Royal Bank of Canada decreased their target price on shares of Lincoln National from $31.00 to $26.00 in a research report on Thursday. The Goldman Sachs Group decreased their target price on shares of Lincoln National from $39.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, April 5th. Finally, Morgan Stanley decreased their target price on shares of Lincoln National from $38.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Lincoln National presently has a consensus rating of “Hold” and a consensus target price of $31.43.
Lincoln National Stock Down 4.2 %
Lincoln National (NYSE:LNC – Get Rating) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.59 billion. Lincoln National had a negative return on equity of 11.85% and a negative net margin of 11.89%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 earnings per share. As a group, sell-side analysts predict that Lincoln National Co. will post 7.48 EPS for the current fiscal year.
Lincoln National Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, April 10th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.42%. The ex-dividend date of this dividend was Thursday, April 6th. Lincoln National’s dividend payout ratio is currently -13.60%.
Lincoln National Company Profile
Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.
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