Telemus Capital LLC lifted its holdings in shares of Lincoln National Co. (NYSE:LNC) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,184 shares of the financial services provider’s stock after purchasing an additional 902 shares during the quarter. Telemus Capital LLC’s holdings in Lincoln National were worth $1,244,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Lincoln National during the fourth quarter worth about $108,000. D.A. Davidson & CO. boosted its stake in Lincoln National by 8.6% in the second quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock worth $116,000 after buying an additional 136 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Lincoln National in the fourth quarter worth approximately $123,000. Resources Investment Advisors Inc. boosted its stake in Lincoln National by 125.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,800 shares of the financial services provider’s stock worth $138,000 after buying an additional 1,000 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in Lincoln National in the third quarter worth approximately $171,000. 80.58% of the stock is owned by institutional investors.
Shares of Lincoln National Co. (NYSE:LNC) traded up $1.52 during mid-day trading on Friday, reaching $75.38. The company’s stock had a trading volume of 2,572,465 shares, compared to its average volume of 1,553,398. The company has a quick ratio of 0.11, a current ratio of 0.10 and a debt-to-equity ratio of 0.28. Lincoln National Co. has a 12-month low of $61.45 and a 12-month high of $86.68. The company has a market capitalization of $16,495.33, a P/E ratio of 8.16, a P/E/G ratio of 1.10 and a beta of 1.96.
Lincoln National declared that its Board of Directors has approved a share repurchase plan on Friday, January 19th that allows the company to buyback shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several analysts have issued reports on the company. ValuEngine lowered Lincoln National from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. B. Riley reaffirmed a “neutral” rating on shares of Lincoln National in a research note on Monday, November 6th. Goldman Sachs Group assumed coverage on Lincoln National in a research note on Wednesday, October 18th. They issued a “sell” rating and a $71.00 target price for the company. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 target price for the company in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Lincoln National presently has a consensus rating of “Buy” and an average target price of $83.27.
In other Lincoln National news, EVP Ellen Cooper sold 7,300 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.01, for a total value of $620,573.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dennis R. Glass sold 102,367 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $84.71, for a total value of $8,671,508.57. The disclosure for this sale can be found here. Insiders sold 141,324 shares of company stock valued at $11,961,400 in the last quarter. Corporate insiders own 1.12% of the company’s stock.
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Lincoln National Company 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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