Lincoln National Co. (NYSE:LNC) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA reduced its stake in Lincoln National Co. (NYSE:LNCGet Rating) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,884 shares of the financial services provider’s stock after selling 8,480 shares during the period. Pictet Asset Management SA’s holdings in Lincoln National were worth $3,736,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Lyrical Asset Management LP increased its holdings in Lincoln National by 1.2% in the 1st quarter. Lyrical Asset Management LP now owns 4,147,536 shares of the financial services provider’s stock valued at $271,083,000 after purchasing an additional 49,765 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Lincoln National by 19.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,401,204 shares of the financial services provider’s stock valued at $222,304,000 after purchasing an additional 564,100 shares in the last quarter. Invesco Ltd. increased its holdings in Lincoln National by 15.9% in the 1st quarter. Invesco Ltd. now owns 3,005,501 shares of the financial services provider’s stock valued at $196,440,000 after purchasing an additional 411,343 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Lincoln National by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,900,801 shares of the financial services provider’s stock valued at $189,613,000 after purchasing an additional 113,356 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Lincoln National by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,339,584 shares of the financial services provider’s stock valued at $87,555,000 after purchasing an additional 16,180 shares in the last quarter. 77.37% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Stock Performance

Shares of LNC stock opened at $37.73 on Monday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.19 and a current ratio of 0.19. The company’s 50-day simple moving average is $45.20 and its 200-day simple moving average is $48.56. Lincoln National Co. has a one year low of $32.59 and a one year high of $76.40. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -3.13 and a beta of 1.84.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be issued a $0.45 dividend. The ex-dividend date is Monday, January 9th. This represents a $1.80 dividend on an annualized basis and a yield of 4.77%. Lincoln National’s dividend payout ratio is currently -14.94%.

Wall Street Analyst Weigh In

LNC has been the subject of a number of analyst reports. Credit Suisse Group raised shares of Lincoln National from an “underperform” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $41.00 in a research report on Friday, November 4th. JPMorgan Chase & Co. decreased their price objective on shares of Lincoln National from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. Citigroup decreased their price objective on shares of Lincoln National from $53.00 to $36.00 in a research report on Wednesday, November 16th. Royal Bank of Canada decreased their price objective on shares of Lincoln National from $54.00 to $40.00 in a research report on Friday, November 4th. Finally, Morgan Stanley cut shares of Lincoln National from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $68.00 to $54.00 in a research report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.25.

Lincoln National Company Profile

(Get Rating)

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 fixed, variable, and indexed variable annuities.

Recommended Stories

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 Co. (NYSE:LNCGet Rating).

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

Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.