Oppenheimer Asset Management Inc. increased its position in Lincoln National Co. (NYSE:LNC) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,484 shares of the financial services provider’s stock after acquiring an additional 1,374 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.10% of Lincoln National worth $16,790,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in LNC. First Republic Investment Management Inc. grew its holdings in Lincoln National by 2.6% during the 3rd quarter. First Republic Investment Management Inc. now owns 163,239 shares of the financial services provider’s stock valued at $11,995,000 after buying an additional 4,181 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Lincoln National during the 3rd quarter valued at approximately $711,000. Asset Management One Co. Ltd. boosted its position in shares of Lincoln National by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 355,933 shares of the financial services provider’s stock valued at $26,151,000 after acquiring an additional 1,873 shares during the last quarter. AMP Capital Investors Ltd boosted its position in shares of Lincoln National by 34.9% during the 3rd quarter. AMP Capital Investors Ltd now owns 169,776 shares of the financial services provider’s stock valued at $12,474,000 after acquiring an additional 43,928 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Lincoln National by 7.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 32,852 shares of the financial services provider’s stock worth $2,414,000 after buying an additional 2,224 shares during the last quarter. 80.32% of the stock is owned by institutional investors.
Shares of Lincoln National Co. (NYSE LNC) traded down $0.48 during trading hours on Friday, reaching $76.87. The company’s stock had a trading volume of 1,014,695 shares, compared to its average volume of 1,207,079. Lincoln National Co. has a one year low of $61.45 and a one year high of $78.74. The firm has a market capitalization of $16,926.46, a P/E ratio of 12.03, a PEG ratio of 1.16 and a beta of 2.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.72%. This is a boost from Lincoln National’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, January 9th. Lincoln National’s payout ratio is presently 18.15%.
A number of analysts recently issued reports on the company. Royal Bank of Canada restated a “buy” rating and issued a $83.00 price target on shares of Lincoln National in a research report on Tuesday, October 10th. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research note on Wednesday, September 6th. Citigroup reiterated a “buy” rating and issued a $83.00 target price (up previously from $82.00) on shares of Lincoln National in a research note on Thursday, September 14th. B. Riley restated a “neutral” rating on shares of Lincoln National in a research note on Monday, November 6th. Finally, ValuEngine lowered Lincoln National from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $80.10.
Lincoln National Profile
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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