Global Retirement Partners LLC boosted its holdings in shares of Lincoln National Co. (NYSE:LNC – Free Report) by 161.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,835 shares of the financial services provider’s stock after purchasing an additional 1,132 shares during the period. Global Retirement Partners LLC’s holdings in Lincoln National were worth $38,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. State Street Corp increased its holdings in Lincoln National by 20.8% during the 3rd quarter. State Street Corp now owns 9,443,719 shares of the financial services provider’s stock valued at $414,674,000 after purchasing an additional 1,628,081 shares during the period. Millennium Management LLC boosted its position in Lincoln National by 249.3% during the 4th quarter. Millennium Management LLC now owns 4,420,920 shares of the financial services provider’s stock valued at $135,811,000 after acquiring an additional 3,155,232 shares in the last quarter. Morgan Stanley boosted its position in Lincoln National by 8.8% during the 4th quarter. Morgan Stanley now owns 4,333,803 shares of the financial services provider’s stock valued at $133,134,000 after acquiring an additional 351,565 shares in the last quarter. Geode Capital Management LLC boosted its position in Lincoln National by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 3,315,988 shares of the financial services provider’s stock valued at $101,691,000 after acquiring an additional 26,946 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Lincoln National by 15.9% during the 1st quarter. Invesco Ltd. now owns 3,005,501 shares of the financial services provider’s stock valued at $196,440,000 after acquiring an additional 411,343 shares in the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Analyst Upgrades and Downgrades
LNC has been the topic of several research reports. Piper Sandler lifted their price objective on Lincoln National from $21.00 to $27.00 in a research report on Friday, July 7th. Raymond James initiated coverage on Lincoln National in a research report on Wednesday, July 26th. They set a “market perform” rating on the stock. 22nd Century Group reaffirmed a “maintains” rating on shares of Lincoln National in a research report on Monday, May 15th. Morgan Stanley lifted their price objective on Lincoln National from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Finally, StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Lincoln National presently has a consensus rating of “Hold” and an average price target of $30.54.
Lincoln National Price Performance
Shares of NYSE LNC opened at $26.04 on Wednesday. Lincoln National Co. has a twelve month low of $18.50 and a twelve month high of $54.59. The firm has a market cap of $4.42 billion, a P/E ratio of -1.48 and a beta of 1.81. The company has a 50 day moving average of $26.00 and a 200 day moving average of $25.33. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.23.
Lincoln National (NYSE:LNC – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a negative net margin of 18.67% and a negative return on equity of 22.54%. During the same period in the previous year, the business earned $2.23 EPS. As a group, research analysts expect that Lincoln National Co. will post 7.1 EPS for the current fiscal year.
Lincoln National Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 6.91%. Lincoln National’s dividend payout ratio is presently -10.23%.
About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.
Read More
- Five stocks we like better than Lincoln National
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- On Holding Slips Into A More Comfortable Price PointÂ
- Stock Sentiment Analysis: How it Works
- 3 Growing Cannabis Stocks Ready To Bloom
- Health Care Stocks Explained: Why You Might Want to Invest
- Will Meta’s Pullback Offer Buy Point After AI-Driven Surge?
Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.
