Carroll Financial Associates Inc. lessened its holdings in shares of Lincoln National Co. (NYSE:LNC) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,548 shares of the financial services provider’s stock after selling 800 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Lincoln National were worth $731,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Arlington Partners LLC acquired a new position in shares of Lincoln National in the fourth quarter valued at approximately $47,000. FNY Investment Advisers LLC acquired a new position in shares of Lincoln National in the third quarter valued at approximately $135,000. Twin Tree Management LP acquired a new position in shares of Lincoln National in the third quarter valued at approximately $151,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Lincoln National by 82.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,318 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Lincoln National in the third quarter valued at approximately $167,000. 80.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LNC stock opened at $55.24 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.19 and a quick ratio of 0.19. Lincoln National Co. has a 1 year low of $48.07 and a 1 year high of $86.68. The company has a market capitalization of $11.64 billion, a P/E ratio of 7.09 and a beta of 1.89.
Lincoln National (NYSE:LNC) last released its earnings results on Thursday, November 1st. The financial services provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.17. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the prior year, the company earned $1.87 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis. As a group, analysts predict that Lincoln National Co. will post 8.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.33. This represents a $1.48 annualized dividend and a yield of 2.68%. Lincoln National’s dividend payout ratio is presently 19.00%.
In other Lincoln National news, EVP Jamie Ohl sold 2,152 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $58.00, for a total transaction of $124,816.00. Following the completion of the sale, the executive vice president now directly owns 12,732 shares in the company, valued at $738,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.12% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on the company. UBS Group upped their target price on Lincoln National from $73.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, October 8th. Bank of America decreased their target price on Lincoln National from $79.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Monday, December 10th. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 13th. Finally, Deutsche Bank cut their price target on Lincoln National from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, November 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $74.69.
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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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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