Hartford Investment Management Co. reduced its position in shares of Lincoln National Co. (NYSE:LNC – Get Rating ) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,166 shares of the financial services provider’s stock after selling 672 shares during the period. Hartford Investment Management Co.’s holdings. in Lincoln National were worth $1,187,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in LNC. First Trust Advisors LP boosted its stake in Lincoln National by 222.5% in the fourth quarter. First Trust Advisors LP now owns 433,703 shares of the financial services provider’s stock valued at $29,605,000 after buying an additional 299,241 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Lincoln National in the third quarter valued at approximately $248,000. Oak Harbor Wealth Partners LLC purchased a new stake in shares of Lincoln National in the 4th quarter valued at approximately $14,986,000. Eagle Rock Investment Company LLC purchased a new stake in shares of Lincoln National in the 4th quarter valued at approximately $10,683,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Lincoln National by 17.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,048,157 shares of the financial services provider’s stock valued at $71,548,000 after purchasing an additional 154,729 shares in the last quarter. 86.40% of the shares are owned by institutional investors.
Shares of Lincoln National opened at $47.59 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.21, and a quick ratio of 0.21. The business has a fifty day moving average of $53.87 and a 200 day moving average of $62.84. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.26 and a beta of 1.92. Lincoln National Co. has a 1-year low of $45.25 and a 1-year high of $77.57.
Lincoln National (NYSE:LNC – Get Rating) last posted its earnings results on Wednesday, May 4th. The financial services provider reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.31). Lincoln National had a return on equity of 7.68% and a net margin of 6.62%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the firm earned $1.82 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts expect Lincoln National Co. to post 9.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Monday, July 11th will be paid a dividend of $0.45 per share. This represents an annualized dividend of $1.80 and a yield of 3.78%. The ex-dividend date is Friday, July 8th. Lincoln National’s dividend payout ratio is currently 26.47%.
LNC has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Lincoln National from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, April 8th. Barclays reduced their target price on Lincoln National from $66.00 to $58.00 in a research note on Tuesday, May 10th. Goldman Sachs Group cut their target price on Lincoln National from $78.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Wolfe Research reissued a “peer perform” rating on shares of Lincoln National in a research note on Thursday, June 23rd. Finally, Piper Sandler cut their target price on Lincoln National from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, May 27th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $68.00, according to MarketBeat.com.
Lincoln National Company Profile (Get Rating)
Lincoln National Corporation, through its subsidiaries, operates numerous insurance and pension businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance and Group Protection. The annuities segment offers fixed, variable and indexed variable annuities.
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