Man Group plc Increases Stake in Lincoln National Co. (NYSE:LNC)

Man Group plc boosted its stake in shares of Lincoln National Co. (NYSE:LNC) by 44.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,137,521 shares of the financial services provider’s stock after acquiring an additional 652,977 shares during the quarter. Lincoln National accounts for 0.5% of Man Group plc’s holdings, making the stock its 24th largest position. Man Group plc’s holdings in Lincoln National were worth $137,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Lincoln National by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,898,554 shares of the financial services provider’s stock worth $148,472,000 after acquiring an additional 197,294 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Lincoln National by 15.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 53,249 shares of the financial services provider’s stock worth $3,126,000 after buying an additional 7,102 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Lincoln National by 2.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,943 shares of the financial services provider’s stock worth $701,000 after buying an additional 290 shares during the last quarter. Cadence Capital Management LLC acquired a new position in Lincoln National during the first quarter worth $202,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Lincoln National by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 896,981 shares of the financial services provider’s stock worth $52,653,000 after buying an additional 5,723 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Several research analysts have weighed in on LNC shares. ValuEngine downgraded shares of Lincoln National from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Morgan Stanley reduced their price target on shares of Lincoln National from $76.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. Wells Fargo & Co restated a “hold” rating and set a $69.00 price target on shares of Lincoln National in a research report on Wednesday, July 31st. Goldman Sachs Group upgraded shares of Lincoln National from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $77.00 in a research report on Tuesday, June 25th. Finally, Citigroup cut their target price on shares of Lincoln National from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Lincoln National currently has a consensus rating of “Buy” and an average price target of $74.64.

NYSE:LNC traded down $0.25 on Thursday, reaching $60.87. 110,591 shares of the company’s stock were exchanged, compared to its average volume of 1,305,942. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.21 and a quick ratio of 0.21. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 0.73 and a beta of 1.97. Lincoln National Co. has a 52 week low of $48.07 and a 52 week high of $71.27. The stock has a fifty day simple moving average of $55.99 and a 200-day simple moving average of $61.76.

Lincoln National (NYSE:LNC) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.04. Lincoln National had a net margin of 8.74% and a return on equity of 11.85%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the business earned $2.02 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Lincoln National Co. will post 9.3 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, October 9th. Lincoln National’s payout ratio is 17.45%.

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.

Further Reading: How to find the components of the quick ratio

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

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