Raymond James Financial Services Advisors Inc. lifted its stake in shares of Lincoln National Co. (NYSE:LNC – Get Rating) by 15.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,108 shares of the financial services provider’s stock after acquiring an additional 8,231 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Lincoln National were worth $1,877,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Lincoln National by 20.8% during the third quarter. State Street Corp now owns 9,443,719 shares of the financial services provider’s stock worth $414,674,000 after purchasing an additional 1,628,081 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Lincoln National by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,101,324 shares of the financial services provider’s stock valued at $136,185,000 after acquiring an additional 41,656 shares during the last quarter. Invesco Ltd. grew its position in Lincoln National by 15.9% in the first quarter. Invesco Ltd. now owns 3,005,501 shares of the financial services provider’s stock worth $196,440,000 after acquiring an additional 411,343 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Lincoln National by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,339,584 shares of the financial services provider’s stock worth $87,555,000 after acquiring an additional 16,180 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Lincoln National by 1.5% in the second quarter. Legal & General Group Plc now owns 1,154,708 shares of the financial services provider’s stock valued at $54,005,000 after purchasing an additional 16,972 shares during the period. Hedge funds and other institutional investors own 78.00% of the company’s stock.
Insiders Place Their Bets
In other news, Director Gary C. Kelly acquired 7,838 shares of Lincoln National stock in a transaction dated Thursday, May 11th. The shares were acquired at an average cost of $25.52 per share, for a total transaction of $200,025.76. Following the acquisition, the director now owns 15,007 shares of the company’s stock, valued at $382,978.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.75% of the stock is currently owned by company insiders.
Lincoln National Trading Down 3.6 %
Lincoln National (NYSE:LNC – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. Lincoln National had a negative return on equity of 17.09% and a negative net margin of 17.97%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter last year, the business posted $1.66 EPS. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. Sell-side analysts expect that Lincoln National Co. will post 7.14 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of analysts recently issued reports on LNC shares. Barclays cut their price objective on Lincoln National from $20.00 to $17.00 in a research report on Wednesday, May 3rd. Royal Bank of Canada dropped their price target on shares of Lincoln National from $31.00 to $26.00 in a research report on Thursday, May 11th. Morgan Stanley decreased their price objective on shares of Lincoln National from $38.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 12th. Wells Fargo & Company dropped their target price on shares of Lincoln National from $35.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. Finally, The Goldman Sachs Group decreased their price target on Lincoln National from $39.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, April 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.43.
Lincoln National Company Profile
Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.
- Get a free copy of the StockNews.com research report on Lincoln National (LNC)
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