Levin Capital Strategies L.P. Increases Holdings in Lincoln National Co. (LNC)

Levin Capital Strategies L.P. raised its position in shares of Lincoln National Co. (NYSE:LNC) by 15.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,047,434 shares of the financial services provider’s stock after purchasing an additional 139,699 shares during the period. Lincoln National accounts for approximately 1.2% of Levin Capital Strategies L.P.’s portfolio, making the stock its 28th largest holding. Levin Capital Strategies L.P. owned 0.49% of Lincoln National worth $53,744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Lincoln National by 59.7% during the third quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock valued at $806,475,000 after purchasing an additional 4,457,743 shares during the period. FMR LLC lifted its position in shares of Lincoln National by 0.3% during the third quarter. FMR LLC now owns 5,714,564 shares of the financial services provider’s stock worth $386,648,000 after acquiring an additional 18,561 shares in the last quarter. LSV Asset Management lifted its position in shares of Lincoln National by 0.3% during the third quarter. LSV Asset Management now owns 5,671,951 shares of the financial services provider’s stock worth $383,764,000 after acquiring an additional 16,202 shares in the last quarter. Lyrical Asset Management LP lifted its position in shares of Lincoln National by 5.1% during the third quarter. Lyrical Asset Management LP now owns 5,068,451 shares of the financial services provider’s stock worth $342,931,000 after acquiring an additional 247,509 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Lincoln National by 69.9% during the third quarter. Schroder Investment Management Group now owns 1,180,918 shares of the financial services provider’s stock worth $79,901,000 after acquiring an additional 486,050 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on LNC shares. Wells Fargo & Co started coverage on Lincoln National in a research report on Tuesday, January 8th. They set a “market perform” rating and a $63.00 target price on the stock. Zacks Investment Research downgraded Lincoln National from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Morgan Stanley dropped their target price on Lincoln National from $76.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 13th. ValuEngine downgraded Lincoln National from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 11th. Finally, Keefe, Bruyette & Woods upgraded Lincoln National from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, November 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $74.69.

Shares of LNC stock opened at $58.74 on Monday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.41. Lincoln National Co. has a 52-week low of $48.07 and a 52-week high of $79.83. The firm has a market capitalization of $12.46 billion, a P/E ratio of 6.93 and a beta of 1.90.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.02. Lincoln National had a return on equity of 12.41% and a net margin of 9.92%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the business posted $1.98 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. On average, analysts predict that Lincoln National Co. will post 9.2 EPS for the current year.

In related news, EVP Jamie Ohl sold 2,152 shares of the stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $58.00, for a total value of $124,816.00. Following the sale, the executive vice president now owns 12,732 shares in the company, valued at $738,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.31% of the company’s stock.

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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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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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