Premia Global Advisors LLC purchased a new position in shares of Lincoln National Co. (NYSE:LNC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,815 shares of the financial services provider’s stock, valued at approximately $216,000.
Other hedge funds have also made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its holdings in Lincoln National by 3.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 801,800 shares of the financial services provider’s stock worth $61,635,000 after acquiring an additional 26,494 shares during the period. Twin Capital Management Inc. grew its holdings in Lincoln National by 8.5% in the third quarter. Twin Capital Management Inc. now owns 201,505 shares of the financial services provider’s stock valued at $14,806,000 after purchasing an additional 15,803 shares during the last quarter. North Star Investment Management Corp. grew its holdings in Lincoln National by 45.2% in the fourth quarter. North Star Investment Management Corp. now owns 5,615 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 1,749 shares during the last quarter. Aperio Group LLC grew its holdings in Lincoln National by 2.5% in the fourth quarter. Aperio Group LLC now owns 302,754 shares of the financial services provider’s stock valued at $23,273,000 after purchasing an additional 7,276 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Lincoln National by 12.2% in the fourth quarter. Toronto Dominion Bank now owns 94,441 shares of the financial services provider’s stock valued at $7,260,000 after purchasing an additional 10,295 shares during the last quarter. 82.30% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Dennis R. Glass sold 102,367 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $84.71, for a total transaction of $8,671,508.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth S. Solon sold 1,875 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $78.53, for a total value of $147,243.75. Following the transaction, the executive vice president now owns 148,067 shares in the company, valued at $11,627,701.51. The disclosure for this sale can be found here. Insiders sold 143,199 shares of company stock worth $12,108,644 over the last 90 days. Company insiders own 1.12% of the company’s stock.
Shares of Lincoln National Co. (NYSE LNC) opened at $78.41 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.10 and a quick ratio of 0.10. Lincoln National Co. has a 12-month low of $61.45 and a 12-month high of $86.68. The stock has a market capitalization of $17,179.05, a price-to-earnings ratio of 10.12, a PEG ratio of 1.16 and a beta of 1.97.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.04. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the business earned $1.77 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. sell-side analysts anticipate that Lincoln National Co. will post 8.5 EPS for the current fiscal year.
Lincoln National declared that its board has authorized a stock buyback program on Friday, January 19th that allows the company to buyback outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a $0.33 dividend. The ex-dividend date is Monday, April 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.68%. Lincoln National’s dividend payout ratio is currently 14.29%.
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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