Fifth Third Bancorp maintained its stake in Lincoln National Corporation (NYSE:LNC) during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 32,561 shares of the company’s stock at the end of the fourth quarter. Fifth Third Bancorp’s holdings in Lincoln National Corporation were worth $1,530,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Marathon Capital Management increased its stake in Lincoln National Corporation by 8.7% in the second quarter. Marathon Capital Management now owns 16,476 shares of the company’s stock worth $639,000 after buying an additional 1,325 shares in the last quarter. Affinity Investment Advisors LLC increased its stake in Lincoln National Corporation by 21.1% in the second quarter. Affinity Investment Advisors LLC now owns 501,869 shares of the company’s stock worth $19,457,000 after buying an additional 87,274 shares in the last quarter. Isthmus Partners LLC increased its stake in Lincoln National Corporation by 3.1% in the second quarter. Isthmus Partners LLC now owns 80,258 shares of the company’s stock worth $3,112,000 after buying an additional 2,422 shares in the last quarter. Wealthsource Partners LLC increased its stake in Lincoln National Corporation by 22.0% in the second quarter. Wealthsource Partners LLC now owns 9,115 shares of the company’s stock worth $353,000 after buying an additional 1,645 shares in the last quarter. Finally, Twin Capital Management Inc. increased its stake in Lincoln National Corporation by 63.0% in the second quarter. Twin Capital Management Inc. now owns 141,340 shares of the company’s stock worth $5,480,000 after buying an additional 54,610 shares in the last quarter. 78.34% of the stock is currently owned by institutional investors.
Lincoln National Corporation (NYSE:LNC) traded up 1.53% during mid-day trading on Tuesday, hitting $72.17. The stock had a trading volume of 1,054,925 shares. Lincoln National Corporation has a 52 week low of $32.89 and a 52 week high of $72.52. The stock’s 50-day moving average is $67.89 and its 200 day moving average is $56.32. The company has a market capitalization of $16.33 billion, a P/E ratio of 14.35 and a beta of 2.10.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.06. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Lincoln National Corporation had a net margin of 8.88% and a return on equity of 9.93%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.54 earnings per share. Equities analysts forecast that Lincoln National Corporation will post $6.99 earnings per share for the current fiscal year.
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A number of brokerages have recently issued reports on LNC. Citigroup Inc. began coverage on Lincoln National Corporation in a research report on Thursday, January 26th. They set a “buy” rating and a $77.00 target price on the stock. Royal Bank Of Canada boosted their target price on Lincoln National Corporation from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. RBC Capital Markets reaffirmed an “outperform” rating and set a $77.00 target price (up from $73.00) on shares of Lincoln National Corporation in a research report on Friday, February 3rd. Barclays PLC reiterated a “buy” rating and set a $78.00 price target on shares of Lincoln National Corporation in a report on Monday, January 9th. Finally, Morgan Stanley downgraded Lincoln National Corporation from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $60.00 to $71.00 in a report on Wednesday, December 14th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $67.00.
In other news, CEO Dennis R. Glass sold 159,847 shares of the company’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $69.50, for a total transaction of $11,109,366.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Isaiah Tidwell sold 5,499 shares of the company’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $70.58, for a total transaction of $388,119.42. Following the transaction, the director now owns 7,246 shares in the company, valued at approximately $511,422.68. The disclosure for this sale can be found here. Insiders have sold 305,732 shares of company stock worth $20,280,688 in the last ninety days. Insiders own 1.41% of the company’s stock.
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.
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