217,325 Shares in Lincoln National Co. (NYSE:LNC) Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. bought a new position in shares of Lincoln National Co. (NYSE:LNC) in the first quarter, Holdings Channel reports. The institutional investor bought 217,325 shares of the financial services provider’s stock, valued at approximately $13,525,000.

Other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Lincoln National during the 4th quarter worth about $36,000. TCI Wealth Advisors Inc. increased its position in shares of Lincoln National by 35.4% during the 1st quarter. TCI Wealth Advisors Inc. now owns 624 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 163 shares in the last quarter. Tompkins Financial Corp acquired a new stake in shares of Lincoln National during the 4th quarter worth about $43,000. Vantage Consulting Group Inc acquired a new stake in shares of Lincoln National during the 4th quarter worth about $78,000. Finally, Laffer Tengler Investments acquired a new stake in shares of Lincoln National during the 4th quarter worth about $84,000. Institutional investors and hedge funds own 76.76% of the company’s stock.

Lincoln National stock opened at $66.97 on Friday. The business’s 50 day moving average price is $66.71. Lincoln National Co. has a fifty-two week low of $29.42 and a fifty-two week high of $71.68. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 0.20 and a beta of 2.26. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.32.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Tuesday, May 4th. The financial services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.33. Lincoln National had a net margin of 3.80% and a return on equity of 3.55%. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the firm earned $2.24 EPS. Lincoln National’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Lincoln National Co. will post 9.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Shareholders of record on Monday, July 12th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, July 9th. Lincoln National’s payout ratio is currently 37.75%.

Several research firms have weighed in on LNC. Morgan Stanley raised their price objective on shares of Lincoln National from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, May 19th. UBS Group initiated coverage on shares of Lincoln National in a research report on Monday, April 26th. They issued a “neutral” rating and a $67.00 price objective for the company. Citigroup lifted their price target on shares of Lincoln National from $57.00 to $67.00 in a research report on Wednesday, March 31st. Barclays lifted their price target on shares of Lincoln National from $61.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, April 12th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lincoln National from $63.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, April 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $61.21.

Lincoln National Company Profile

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 variable, fixed, and indexed variable annuities.

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

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