Artemis Investment Management LLP Makes New Investment in Lincoln National Co. (NYSE:LNC)

Artemis Investment Management LLP bought a new position in Lincoln National Co. (NYSE:LNC) during the third quarter, Holdings Channel.com reports. The institutional investor bought 69,700 shares of the financial services provider’s stock, valued at approximately $4,196,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Denali Advisors LLC increased its stake in Lincoln National by 38.6% in the 3rd quarter. Denali Advisors LLC now owns 144,300 shares of the financial services provider’s stock worth $8,704,000 after acquiring an additional 40,200 shares during the last quarter. Old North State Trust LLC increased its stake in Lincoln National by 55.6% in the 3rd quarter. Old North State Trust LLC now owns 15,069 shares of the financial services provider’s stock worth $909,000 after acquiring an additional 5,386 shares during the last quarter. Cerebellum GP LLC increased its stake in Lincoln National by 485.7% in the 3rd quarter. Cerebellum GP LLC now owns 7,474 shares of the financial services provider’s stock worth $451,000 after acquiring an additional 6,198 shares during the last quarter. Scout Investments Inc. increased its stake in Lincoln National by 135.6% in the 3rd quarter. Scout Investments Inc. now owns 709,640 shares of the financial services provider’s stock worth $42,805,000 after acquiring an additional 408,431 shares during the last quarter. Finally, TIAA FSB bought a new position in Lincoln National in the 3rd quarter worth about $1,216,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Shares of LNC stock opened at $58.38 on Friday. The stock has a market capitalization of $11.56 billion, a PE ratio of 6.88, a P/E/G ratio of 0.64 and a beta of 1.99. Lincoln National Co. has a 1-year low of $48.07 and a 1-year high of $67.52. The business has a 50-day moving average of $56.95 and a 200 day moving average of $61.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.21 and a quick ratio of 0.21.

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, beating the consensus estimate of $2.32 by $0.04. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Lincoln National had a return on equity of 11.85% and a net margin of 8.74%. Lincoln National’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.02 EPS. Analysts anticipate that Lincoln National Co. will post 9.3 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, October 9th. Lincoln National’s dividend payout ratio (DPR) is currently 17.45%.

A number of equities analysts have weighed in on the company. Citigroup decreased their target price on Lincoln National from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Barclays set a $69.00 price objective on Lincoln National and gave the company a “buy” rating in a research report on Monday, August 12th. Goldman Sachs Group upgraded Lincoln National from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $77.00 in a research report on Tuesday, June 25th. Morgan Stanley reduced their price objective on Lincoln National from $76.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 20th. Finally, ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $73.09.

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

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