Oregon Public Employees Retirement Fund Acquires 15,129 Shares of Lincoln National Corp. (LNC)
Oregon Public Employees Retirement Fund raised its position in shares of Lincoln National Corp. (NYSE:LNC) by 33.6% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 60,198 shares of the company’s stock after buying an additional 15,129 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Lincoln National Corp. were worth $2,828,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in LNC. Babson Capital Management LLC raised its stake in Lincoln National Corp. by 20.1% in the first quarter. Babson Capital Management LLC now owns 27,507 shares of the company’s stock valued at $1,078,000 after buying an additional 4,600 shares during the last quarter. Barnett & Company Inc. purchased a new stake in Lincoln National Corp. during the first quarter valued at $104,000. Raymond James Trust N.A. raised its stake in Lincoln National Corp. by 6.7% in the second quarter. Raymond James Trust N.A. now owns 6,439 shares of the company’s stock valued at $249,000 after buying an additional 404 shares during the last quarter. DNB Asset Management AS raised its stake in Lincoln National Corp. by 1.6% in the second quarter. DNB Asset Management AS now owns 26,050 shares of the company’s stock valued at $1,010,000 after buying an additional 400 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake in Lincoln National Corp. by 5.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 61,867 shares of the company’s stock valued at $2,399,000 after buying an additional 3,200 shares during the last quarter. Institutional investors own 77.97% of the company’s stock.
Shares of Lincoln National Corp. (NYSE:LNC) traded up 1.23% during mid-day trading on Wednesday, hitting $64.10. 2,046,571 shares of the company were exchanged. The firm has a 50 day moving average of $54.87 and a 200 day moving average of $47.12. The company has a market capitalization of $14.65 billion, a price-to-earnings ratio of 12.11 and a beta of 1.99. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $64.82.
Lincoln National Corp. (NYSE:LNC) last issued its earnings results on Thursday, November 3rd. The company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.28. The firm earned $3.53 billion during the quarter, compared to the consensus estimate of $3.43 billion. Lincoln National Corp. had a return on equity of 9.89% and a net margin of 9.63%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Equities research analysts forecast that Lincoln National Corp. will post $6.35 earnings per share for the current year.
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 paid a dividend of $0.29 per share. This is an increase from Lincoln National Corp.’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, January 6th. This represents a $1.16 annualized dividend and a yield of 1.81%. Lincoln National Corp.’s payout ratio is presently 18.83%.
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A number of equities research analysts have commented on LNC shares. Zacks Investment Research raised shares of Lincoln National Corp. from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, November 21st. FBR & Co lowered shares of Lincoln National Corp. from an “outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a report on Wednesday, November 9th. Wells Fargo & Co. started coverage on shares of Lincoln National Corp. in a report on Friday, September 23rd. They set a “market perform” rating on the stock. Finally, Credit Suisse Group AG started coverage on shares of Lincoln National Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $57.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $53.50.
In other Lincoln National Corp. news, Director Patrick S. Pittard sold 10,382 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $46.67, for a total transaction of $484,527.94. Following the completion of the transaction, the director now owns 13,115 shares of the company’s stock, valued at $612,077.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dennis R. Glass sold 349,532 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $52.01, for a total value of $18,179,159.32. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.
About Lincoln National Corp.
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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