Bessemer Group Inc. Boosts Position in Lincoln National Corporation (LNC)

Bessemer Group Inc. increased its position in Lincoln National Corporation (NYSE:LNC) by 105.4% during the fourth quarter, Holdings Channel reports. The firm owned 45,792 shares of the company’s stock after buying an additional 23,498 shares during the period. Bessemer Group Inc.’s holdings in Lincoln National Corporation were worth $3,035,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Global X Management Co. LLC raised its position in shares of Lincoln National Corporation by 98.6% in the third quarter. Global X Management Co. LLC now owns 2,324 shares of the company’s stock worth $109,000 after buying an additional 1,154 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Lincoln National Corporation by 75.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,800 shares of the company’s stock valued at $132,000 after buying an additional 1,200 shares during the period. SRB Corp raised its stake in shares of Lincoln National Corporation by 6.2% in the third quarter. SRB Corp now owns 3,389 shares of the company’s stock valued at $159,000 after buying an additional 199 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Lincoln National Corporation by 1.5% in the third quarter. Quadrant Capital Group LLC now owns 3,955 shares of the company’s stock valued at $181,000 after buying an additional 59 shares during the period. Finally, Boys Arnold & Co. Inc. acquired a new stake in shares of Lincoln National Corporation during the third quarter valued at about $210,000. 78.34% of the stock is currently owned by institutional investors and hedge funds.

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

Lincoln National Corporation (NYSE:LNC) traded up 1.46% on Monday, reaching $71.40. 1,038,756 shares of the company’s stock were exchanged. Lincoln National Corporation has a 52 week low of $31.50 and a 52 week high of $71.61. The stock’s 50 day moving average is $67.78 and its 200 day moving average is $55.94. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 14.19 and a beta of 2.10.

Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.06. Lincoln National Corporation had a return on equity of 9.93% and a net margin of 8.88%. The business earned $3.25 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. Lincoln National Corporation’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Lincoln National Corporation will post $6.99 earnings per share for the current year.

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Several brokerages have issued reports on LNC. RBC Capital Markets reissued an “outperform” rating and issued a $77.00 price target (up previously from $73.00) on shares of Lincoln National Corporation in a report on Friday, February 3rd. Royal Bank Of Canada boosted their price target on shares of Lincoln National Corporation from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Citigroup Inc. began coverage on shares of Lincoln National Corporation in a report on Thursday, January 26th. They issued a “buy” rating and a $77.00 price target on the stock. Deutsche Bank AG boosted their price target on shares of Lincoln National Corporation from $66.00 to $69.00 and gave the company a “hold” rating in a report on Monday, January 23rd. Finally, Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Tuesday, January 10th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.00.

In other Lincoln National Corporation news, CEO Dennis R. Glass sold 159,847 shares of the business’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $69.50, for a total value of $11,109,366.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director M Leanne Lachman sold 8,832 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $61.53, for a total value of $543,432.96. Following the completion of the transaction, the director now directly owns 2,960 shares in the company, valued at approximately $182,128.80. The disclosure for this sale can be found here. Insiders have sold 309,065 shares of company stock valued at $20,436,002 in the last quarter. 1.41% of the stock is currently owned by corporate insiders.

About Lincoln National Corporation

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. It 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 in the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.

5 Day Chart for NYSE:LNC

Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Corporation (NYSE:LNC).

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