Burney Co. Grows Stake in Lincoln Financial Group (LNC)

Burney Co. grew its position in Lincoln Financial Group (NYSE:LNC) by 156.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,956 shares of the financial services provider’s stock after buying an additional 4,240 shares during the period. Burney Co.’s holdings in Lincoln Financial Group were worth $508,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LPL Financial LLC boosted its position in shares of Lincoln Financial Group by 43.2% in the 4th quarter. LPL Financial LLC now owns 28,548 shares of the financial services provider’s stock worth $2,195,000 after purchasing an additional 8,613 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Lincoln Financial Group by 14,542.6% in the 4th quarter. Jane Street Group LLC now owns 62,963 shares of the financial services provider’s stock worth $4,840,000 after purchasing an additional 62,533 shares during the last quarter. HBK Sorce Advisory LLC bought a new position in shares of Lincoln Financial Group in the 4th quarter worth $268,000. Schwab Charles Investment Management Inc. boosted its position in shares of Lincoln Financial Group by 3.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 801,800 shares of the financial services provider’s stock worth $61,635,000 after purchasing an additional 26,494 shares during the last quarter. Finally, Dorsey Wright & Associates boosted its position in shares of Lincoln Financial Group by 2.8% in the 4th quarter. Dorsey Wright & Associates now owns 30,522 shares of the financial services provider’s stock worth $2,346,000 after purchasing an additional 823 shares during the last quarter. Institutional investors and hedge funds own 82.38% of the company’s stock.

LNC has been the topic of several recent research reports. Deutsche Bank reduced their price target on Lincoln Financial Group from $96.00 to $87.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. JPMorgan Chase set a $87.00 price target on Lincoln Financial Group and gave the stock a “buy” rating in a research report on Monday, April 2nd. Bank of America initiated coverage on Lincoln Financial Group in a research report on Monday, March 26th. They issued a “buy” rating and a $90.00 price target on the stock. Zacks Investment Research lowered Lincoln Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, ValuEngine lowered Lincoln Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $83.15.

In other Lincoln Financial Group news, EVP Kenneth S. Solon sold 1,875 shares of Lincoln Financial Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $78.53, for a total transaction of $147,243.75. Following the transaction, the executive vice president now directly owns 148,067 shares in the company, valued at $11,627,701.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Buckingham sold 24,537 shares of Lincoln Financial Group stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $78.39, for a total value of $1,923,455.43. Following the transaction, the executive vice president now owns 77,135 shares in the company, valued at $6,046,612.65. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Lincoln Financial Group opened at $69.02 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market cap of $14.91 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 1.01 and a beta of 1.94. Lincoln Financial Group has a 1-year low of $67.44 and a 1-year high of $68.31.

Lincoln Financial Group (NYSE:LNC) last posted its earnings results on Wednesday, May 2nd. The financial services provider reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.03. The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.80 billion. Lincoln Financial Group had a return on equity of 10.69% and a net margin of 13.90%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 earnings per share. analysts predict that Lincoln Financial Group will post 8.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, April 9th. This represents a $1.32 annualized dividend and a yield of 1.91%. Lincoln Financial Group’s dividend payout ratio is presently 16.94%.

Lincoln Financial Group announced that its Board of Directors has approved a share repurchase plan on Friday, January 19th that permits the company to repurchase outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Lincoln Financial Group 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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.

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Institutional Ownership by Quarter for Lincoln Financial Group (NYSE:LNC)

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