Advisors Capital Management LLC Boosts Stake in Lincoln National Corporation $LNC

Advisors Capital Management LLC raised its position in Lincoln National Corporation (NYSE:LNC) by 3.4% during the third quarter, Holdings Channel reports. The firm owned 569,180 shares of the financial services provider’s stock after buying an additional 18,687 shares during the quarter. Advisors Capital Management LLC’s holdings in Lincoln National were worth $22,955,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Lincoln National in the second quarter valued at $87,362,000. Jennison Associates LLC acquired a new position in Lincoln National during the 2nd quarter worth about $43,686,000. Vanguard Group Inc. boosted its holdings in Lincoln National by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider’s stock valued at $802,717,000 after acquiring an additional 1,183,934 shares during the period. Massachusetts Financial Services Co. MA grew its position in Lincoln National by 21.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider’s stock valued at $240,051,000 after acquiring an additional 1,035,505 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Lincoln National by 20.0% in the 2nd quarter. First Trust Advisors LP now owns 4,645,447 shares of the financial services provider’s stock valued at $160,732,000 after acquiring an additional 774,721 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lincoln National

In related news, EVP John Christopher Kennedy sold 3,519 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total value of $155,363.85. Following the completion of the transaction, the executive vice president directly owned 118,985 shares of the company’s stock, valued at $5,253,187.75. This represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Lincoln National Price Performance

Lincoln National stock opened at $41.54 on Wednesday. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $42.90 and a 200-day simple moving average of $41.46. The stock has a market cap of $7.89 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $46.82.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, beating the consensus estimate of $1.86 by $0.35. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.85 billion. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.Lincoln National’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.91 earnings per share. Equities analysts expect that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LNC. Keefe, Bruyette & Woods increased their price target on shares of Lincoln National from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. National Bank Financial set a $45.00 target price on shares of Lincoln National in a research note on Thursday, January 8th. Jefferies Financial Group raised their price target on shares of Lincoln National from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Wells Fargo & Company boosted their price target on shares of Lincoln National from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Finally, UBS Group increased their price objective on Lincoln National from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.25.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.