Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Lincoln National Co. (NYSE:LNC) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,800 shares of the financial services provider’s stock, valued at approximately $223,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LNC. Gemmer Asset Management LLC grew its position in Lincoln National by 89.7% in the first quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 200 shares during the period. NuWave Investment Management LLC grew its position in Lincoln National by 603.1% in the first quarter. NuWave Investment Management LLC now owns 450 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 386 shares during the period. Proficio Capital Partners LLC grew its position in Lincoln National by 169.6% in the fourth quarter. Proficio Capital Partners LLC now owns 585 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 368 shares during the period. Flagship Harbor Advisors LLC grew its position in Lincoln National by 718.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 753 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 661 shares during the period. Finally, Lindbrook Capital LLC bought a new stake in Lincoln National in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 84.14% of the company’s stock.
LNC has been the topic of several research reports. Zacks Investment Research upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Monday, December 31st. Wells Fargo & Co initiated coverage on shares of Lincoln National in a report on Tuesday, January 8th. They issued a “market perform” rating and a $63.00 price target on the stock. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. Finally, UBS Group raised their price target on shares of Lincoln National from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Lincoln National presently has a consensus rating of “Hold” and a consensus price target of $73.08.
Shares of LNC stock traded up $0.09 during mid-day trading on Wednesday, reaching $66.20. 103,297 shares of the company were exchanged, compared to its average volume of 1,706,464. Lincoln National Co. has a fifty-two week low of $48.07 and a fifty-two week high of $74.17. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $13.68 billion, a P/E ratio of 7.80, a PEG ratio of 0.79 and a beta of 1.91.
Lincoln National (NYSE:LNC) last released its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Lincoln National had a net margin of 9.92% and a return on equity of 12.41%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the company earned $1.98 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, research analysts predict that Lincoln National Co. will post 9.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, April 9th. Lincoln National’s dividend payout ratio (DPR) is presently 17.45%.
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Lincoln National Company 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 Annuities segment offers variable, fixed, and indexed variable annuities.
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