Skandinaviska Enskilda Banken AB publ raised its position in Lincoln National Co. (NYSE:LNC) by 13.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,103 shares of the financial services provider’s stock after acquiring an additional 4,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Lincoln National were worth $2,506,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Lincoln National by 32.0% during the second quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock worth $239,047,000 after purchasing an additional 857,436 shares during the last quarter. Todd Asset Management LLC lifted its stake in Lincoln National by 57.5% during the second quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock worth $47,659,000 after purchasing an additional 257,581 shares during the last quarter. Prudential Financial Inc. lifted its stake in Lincoln National by 42.2% during the second quarter. Prudential Financial Inc. now owns 961,078 shares of the financial services provider’s stock worth $64,950,000 after purchasing an additional 285,168 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Lincoln National by 84.2% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 544,208 shares of the financial services provider’s stock worth $36,777,000 after purchasing an additional 248,800 shares during the last quarter. Finally, Homrich & Berg bought a new position in Lincoln National during the second quarter worth $204,000. 80.44% of the stock is owned by institutional investors.
Lincoln National Co. (NYSE:LNC) traded down $1.59 during trading hours on Wednesday, reaching $75.91. The company had a trading volume of 1,418,400 shares, compared to its average volume of 1,479,213. The firm has a market capitalization of $16,959.28, a price-to-earnings ratio of 10.24, a P/E/G ratio of 1.16 and a beta of 2.01. Lincoln National Co. has a 1 year low of $61.45 and a 1 year high of $78.44. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.30.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a $0.33 dividend. This is a positive change from Lincoln National’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, January 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.74%. Lincoln National’s dividend payout ratio (DPR) is 18.15%.
Several equities research analysts have weighed in on LNC shares. BidaskClub lowered Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Morgan Stanley raised their price target on Lincoln National from $77.00 to $79.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Citigroup reissued a “buy” rating and set a $83.00 price target (up from $82.00) on shares of Lincoln National in a report on Thursday, September 14th. Finally, Barclays raised their price target on Lincoln National from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Lincoln National currently has an average rating of “Hold” and a consensus target price of $78.40.
About Lincoln National
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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