Wedge Capital Management L L P NC lifted its holdings in shares of Lincoln National Co. (NYSE:LNC) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 518,575 shares of the financial services provider’s stock after buying an additional 28,380 shares during the period. Wedge Capital Management L L P NC’s holdings in Lincoln National were worth $30,601,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of LNC. Vanguard Group Inc. grew its position in Lincoln National by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 22,685,682 shares of the financial services provider’s stock valued at $1,462,092,000 after buying an additional 216,165 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Lincoln National by 653.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,770,198 shares of the financial services provider’s stock worth $178,540,000 after buying an additional 2,402,681 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Lincoln National by 8.5% during the 2nd quarter. Schroder Investment Management Group now owns 2,282,814 shares of the financial services provider’s stock worth $147,127,000 after buying an additional 178,160 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Lincoln National by 59.2% in the 2nd quarter. Invesco Ltd. now owns 2,153,778 shares of the financial services provider’s stock worth $138,812,000 after acquiring an additional 800,628 shares during the period. Finally, Man Group plc lifted its stake in shares of Lincoln National by 44.0% in the 2nd quarter. Man Group plc now owns 2,137,521 shares of the financial services provider’s stock worth $137,764,000 after acquiring an additional 652,977 shares during the period. Institutional investors and hedge funds own 80.33% of the company’s stock.
LNC has been the subject of several recent analyst reports. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. UBS Group boosted their target price on Lincoln National from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Zacks Investment Research downgraded Lincoln National from a “hold” rating to a “sell” rating and set a $64.00 target price for the company. in a research report on Wednesday, December 18th. Morgan Stanley raised Lincoln National from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $72.00 to $73.00 in a research note on Tuesday, January 7th. Finally, TheStreet cut Lincoln National from a “b-” rating to a “c” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.75.
Lincoln National (NYSE:LNC) last released its earnings results on Wednesday, October 30th. The financial services provider reported ($0.25) EPS for the quarter, missing the consensus estimate of $2.41 by ($2.66). The business had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.47 billion. Lincoln National had a net margin of 4.82% and a return on equity of 10.64%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 earnings per share. On average, research analysts forecast that Lincoln National Co. will post 6.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 10th will be given a $0.40 dividend. This is a positive change from Lincoln National’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, January 9th. This represents a $1.60 annualized dividend and a yield of 2.75%. Lincoln National’s payout ratio is 18.87%.
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.
Featured Article: What is a Tariff?
Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Co. (NYSE:LNC).
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.