Clark Capital Management Group Inc. bought a new position in shares of Lincoln National Corporation (NYSE:LNC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 111,488 shares of the company’s stock, valued at approximately $7,389,000.
A number of other institutional investors also recently modified their holdings of the stock. Bloom Tree Partners LLC acquired a new position in shares of Lincoln National Corporation during the third quarter valued at about $37,376,000. Scout Investments Inc. purchased a new stake in shares of Lincoln National Corporation during the third quarter valued at approximately $26,758,000. Bank of Montreal Can boosted its stake in shares of Lincoln National Corporation by 25.6% in the third quarter. Bank of Montreal Can now owns 2,737,161 shares of the company’s stock valued at $128,592,000 after buying an additional 557,065 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Lincoln National Corporation during the third quarter valued at approximately $23,244,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Lincoln National Corporation by 193.6% in the third quarter. Hsbc Holdings PLC now owns 657,400 shares of the company’s stock valued at $30,888,000 after buying an additional 433,527 shares during the last quarter. Institutional investors own 78.93% of the company’s stock.
Shares of Lincoln National Corporation (NYSE:LNC) traded up 0.46% on Friday, hitting $70.37. 1,588,433 shares of the stock were exchanged. The firm has a market capitalization of $15.92 billion, a PE ratio of 13.99 and a beta of 2.10. The company has a 50-day moving average price of $67.78 and a 200-day moving average price of $55.94. Lincoln National Corporation has a one year low of $32.89 and a one year high of $70.87.
Lincoln National Corporation (NYSE:LNC) last released its earnings results on Wednesday, February 1st. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.06. The business earned $3.25 billion during the quarter, compared to the consensus estimate of $3.45 billion. Lincoln National Corporation had a net margin of 8.88% and a return on equity of 9.93%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 earnings per share. Equities research analysts expect that Lincoln National Corporation will post $6.99 earnings per share for the current year.
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LNC has been the topic of several research reports. Citigroup Inc. began coverage on Lincoln National Corporation in a report on Thursday, January 26th. They issued a “buy” rating and a $77.00 price target on the stock. Zacks Investment Research upgraded 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. 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. FBR & Co boosted their price target on shares of Lincoln National Corporation from $55.00 to $63.00 and gave the company a “mkt perform” rating in a report on Monday, November 28th. Finally, Morgan Stanley restated an “equal weight” rating and set a $71.00 price target on shares of Lincoln National Corporation in a report on Wednesday, December 14th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $67.00.
In related news, insider Mark E. Konen sold 154,000 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $58.62, for a total value of $9,027,480.00. Following the completion of the transaction, the insider now owns 190,411 shares of the company’s stock, valued at $11,161,892.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dennis R. Glass sold 159,847 shares of the firm’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $69.50, for a total transaction of $11,109,366.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 464,090 shares of company stock valued at $29,525,095. 1.41% of the stock is owned by insiders.
Lincoln National Corporation Company Profile
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.
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