Investors Buy Shares of Lincoln National (LNC) on Weakness

Investors purchased shares of Lincoln National Co. (NYSE:LNC) on weakness during trading hours on Tuesday. $43.90 million flowed into the stock on the tick-up and $22.78 million flowed out of the stock on the tick-down, for a money net flow of $21.12 million into the stock. Of all companies tracked, Lincoln National had the 23rd highest net in-flow for the day. Lincoln National traded down ($1.13) for the day and closed at $74.34

A number of equities analysts have commented on the stock. Wells Fargo & Co set a $80.00 price objective on shares of Lincoln National and gave the stock a “hold” rating in a report on Thursday, November 16th. ValuEngine lowered shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Barclays restated a “buy” rating and issued a $90.00 target price on shares of Lincoln National in a research note on Tuesday, January 9th. Goldman Sachs Group initiated coverage on shares of Lincoln National in a research note on Wednesday, October 18th. They issued a “sell” rating and a $71.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 target price on the stock in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Lincoln National has an average rating of “Buy” and an average price target of $83.27.

The company has a market capitalization of $16,267.78, a P/E ratio of 8.37, a PEG ratio of 1.09 and a beta of 1.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.11 and a current ratio of 0.10.

Lincoln National (NYSE:LNC) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.04. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. sell-side analysts expect that Lincoln National Co. will post 8.54 earnings per share for the current year.

Lincoln National announced that its Board of Directors has authorized a share repurchase plan on Friday, January 19th that allows the company to buyback shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

In related news, EVP Ellen Cooper sold 7,300 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $85.01, for a total transaction of $620,573.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dennis R. Glass sold 102,367 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $84.71, for a total transaction of $8,671,508.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,324 shares of company stock valued at $11,961,400. Insiders own 1.12% of the company’s stock.

Several large investors have recently made changes to their positions in LNC. Eqis Capital Management Inc. bought a new stake in shares of Lincoln National during the 3rd quarter valued at about $227,000. Sit Investment Associates Inc. grew its position in shares of Lincoln National by 473,333.3% during the 3rd quarter. Sit Investment Associates Inc. now owns 269,857 shares of the financial services provider’s stock valued at $19,829,000 after buying an additional 269,800 shares during the last quarter. Shell Asset Management Co. grew its position in shares of Lincoln National by 198.8% during the 3rd quarter. Shell Asset Management Co. now owns 40,415 shares of the financial services provider’s stock valued at $2,165,000 after buying an additional 26,889 shares during the last quarter. PGGM Investments grew its position in shares of Lincoln National by 2.3% during the 3rd quarter. PGGM Investments now owns 158,924 shares of the financial services provider’s stock valued at $11,678,000 after buying an additional 3,585 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Lincoln National by 5.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 589,004 shares of the financial services provider’s stock worth $43,281,000 after purchasing an additional 30,184 shares during the last quarter. 80.50% of the stock is owned by institutional investors and hedge funds.

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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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