DAVENPORT & Co LLC Purchases 2,170 Shares of Lincoln National Co. (NYSE:LNC)

DAVENPORT & Co LLC raised its position in Lincoln National Co. (NYSE:LNC) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,300 shares of the financial services provider’s stock after acquiring an additional 2,170 shares during the quarter. DAVENPORT & Co LLC’s holdings in Lincoln National were worth $866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LNC. State Street Corp increased its stake in shares of Lincoln National by 1.3% in the 3rd quarter. State Street Corp now owns 6,227,993 shares of the financial services provider’s stock worth $196,244,000 after purchasing an additional 79,955 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Lincoln National by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider’s stock valued at $150,104,000 after purchasing an additional 193,025 shares during the period. Geode Capital Management LLC increased its position in Lincoln National by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,373,487 shares of the financial services provider’s stock worth $106,322,000 after buying an additional 152,622 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Lincoln National by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock valued at $104,281,000 after acquiring an additional 223,129 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in Lincoln National by 9.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,355,000 shares of the financial services provider’s stock worth $74,206,000 after acquiring an additional 207,800 shares in the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Stock Performance

Shares of NYSE:LNC opened at $35.74 on Friday. The firm has a fifty day simple moving average of $32.91 and a two-hundred day simple moving average of $32.45. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $6.09 billion, a P/E ratio of 25.53, a PEG ratio of 0.27 and a beta of 1.79. Lincoln National Co. has a 52 week low of $25.09 and a 52 week high of $36.98.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.87 by $0.04. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. On average, analysts expect that Lincoln National Co. will post 6.97 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.80 annualized dividend and a yield of 5.04%. Lincoln National’s payout ratio is presently 128.57%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Barclays decreased their price target on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price objective on Lincoln National from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Lincoln National currently has a consensus rating of “Hold” and an average price target of $33.40.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.