Dupont Capital Management Corp grew its stake in shares of Lincoln National Co. (NYSE:LNC) by 83.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,667 shares of the financial services provider’s stock after buying an additional 7,110 shares during the period. Dupont Capital Management Corp’s holdings in Lincoln National were worth $804,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of LNC. JPMorgan Chase & Co. boosted its holdings in Lincoln National by 59.7% during the third quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock worth $806,475,000 after buying an additional 4,457,743 shares during the last quarter. Levin Capital Strategies L.P. boosted its holdings in Lincoln National by 22,593.4% during the third quarter. Levin Capital Strategies L.P. now owns 907,735 shares of the financial services provider’s stock worth $61,417,000 after buying an additional 903,735 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Lincoln National by 69.9% during the third quarter. Schroder Investment Management Group now owns 1,180,918 shares of the financial services provider’s stock worth $79,901,000 after buying an additional 486,050 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Lincoln National by 40.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,010,106 shares of the financial services provider’s stock worth $68,343,000 after buying an additional 288,841 shares during the last quarter. Finally, Lyrical Asset Management LP boosted its holdings in Lincoln National by 5.1% during the third quarter. Lyrical Asset Management LP now owns 5,068,451 shares of the financial services provider’s stock worth $342,931,000 after buying an additional 247,509 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.
A number of equities analysts have issued reports on LNC shares. Wells Fargo & Co started coverage on Lincoln National in a report on Tuesday, January 8th. They set a “market perform” rating and a $63.00 target price on the stock. Zacks Investment Research cut Lincoln National from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Morgan Stanley cut their price objective on Lincoln National from $76.00 to $74.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 13th. ValuEngine cut Lincoln National from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 11th. Finally, Keefe, Bruyette & Woods upgraded Lincoln National from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Monday, November 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.69.
NYSE:LNC opened at $60.65 on Thursday. Lincoln National Co. has a fifty-two week low of $48.07 and a fifty-two week high of $79.83. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.41. The stock has a market cap of $13.15 billion, a PE ratio of 7.15 and a beta of 1.90.
Lincoln National (NYSE:LNC) last released its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.02. Lincoln National had a return on equity of 12.41% and a net margin of 9.92%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the business posted $1.98 EPS. Lincoln National’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities analysts expect that Lincoln National Co. will post 9.2 EPS for the current fiscal year.
In other news, EVP Jamie Ohl sold 2,152 shares of Lincoln National stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $58.00, for a total transaction of $124,816.00. Following the transaction, the executive vice president now owns 12,732 shares in the company, valued at approximately $738,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.31% of the company’s stock.
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About Lincoln National
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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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