North American Management Corp continued to hold its position in shares of Lincoln National Co. (NYSE:LNC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,500 shares of the company’s stock at the end of the first quarter. North American Management Corp’s holdings in Lincoln National were worth $229,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of LNC. Quadrant Capital Group LLC raised its position in shares of Lincoln National by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 3,965 shares of the company’s stock valued at $255,000 after buying an additional 11 shares during the period. High Point Bank & Trust Co. raised its position in shares of Lincoln National by 0.3% in the third quarter. High Point Bank & Trust Co. now owns 10,232 shares of the company’s stock valued at $480,000 after buying an additional 32 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of Lincoln National by 0.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 9,075 shares of the company’s stock valued at $601,000 after buying an additional 32 shares during the period. Strid Group LLC raised its position in shares of Lincoln National by 0.6% in the third quarter. Strid Group LLC now owns 8,130 shares of the company’s stock valued at $382,000 after buying an additional 50 shares during the period. Finally, AGF Investments America Inc. raised its position in shares of Lincoln National by 0.7% in the third quarter. AGF Investments America Inc. now owns 18,609 shares of the company’s stock valued at $874,000 after buying an additional 133 shares during the period. 78.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lincoln National Co. (NYSE:LNC) traded down 1.16% during trading on Thursday, hitting $63.23. The stock had a trading volume of 1,527,141 shares. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 12.57 and a beta of 2.10. Lincoln National Co. has a 52 week low of $35.27 and a 52 week high of $73.31. The firm has a 50 day moving average price of $67.36 and a 200-day moving average price of $62.73.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.06. Lincoln National had a return on equity of 9.93% and a net margin of 8.88%. The company earned $3.25 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. Lincoln National’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Lincoln National Co. will post $6.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Thursday, April 6th. Lincoln National’s payout ratio is currently 23.25%.
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Several equities analysts have issued reports on the company. Morgan Stanley lowered Lincoln National from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $60.00 to $71.00 in a research note on Wednesday, December 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $75.00 price target on shares of Lincoln National in a research note on Tuesday, March 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 price target (up from $73.00) on shares of Lincoln National in a research note on Friday, February 3rd. Barclays PLC reissued a “buy” rating and issued a $78.00 price target on shares of Lincoln National in a research note on Monday, January 9th. Finally, Bank of America Corp raised Lincoln National from a “neutral” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Thursday, April 6th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $67.75.
In related news, EVP Lisa Buckingham sold 2,275 shares of Lincoln National stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $71.83, for a total value of $163,413.25. Following the completion of the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,163,338.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dennis R. Glass sold 159,847 shares of Lincoln National 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 disclosure for this sale can be found here. Insiders sold 482,641 shares of company stock valued at $34,206,653 in the last ninety days. 1.41% of the stock is currently owned by corporate insiders.
About Lincoln National
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. The Company 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 on 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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