Burney Co. grew its position in Lincoln Financial Group (NYSE:LNC) by 156.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,956 shares of the financial services provider’s stock after purchasing an additional 4,240 shares during the period. Burney Co.’s holdings in Lincoln Financial Group were worth $508,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Cerebellum GP LLC bought a new stake in shares of Lincoln Financial Group in the fourth quarter valued at about $123,000. Resources Investment Advisors Inc. lifted its holdings in shares of Lincoln Financial Group by 125.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,800 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 1,000 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Lincoln Financial Group in the first quarter valued at about $146,000. Wagner Wealth Management LLC acquired a new stake in shares of Lincoln Financial Group in the fourth quarter valued at about $184,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Lincoln Financial Group in the fourth quarter valued at about $169,000. Institutional investors own 82.38% of the company’s stock.
A number of research firms recently issued reports on LNC. Barclays began coverage on Lincoln Financial Group in a research report on Friday, May 11th. They issued an “overweight” rating and a $88.00 target price on the stock. Wells Fargo set a $76.00 target price on Lincoln Financial Group and gave the company a “hold” rating in a research report on Wednesday, May 2nd. Deutsche Bank lowered their target price on Lincoln Financial Group from $96.00 to $87.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. Royal Bank of Canada lowered their target price on Lincoln Financial Group to $84.00 and set an “outperform” rating on the stock in a research report on Friday, May 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Lincoln Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Lincoln Financial Group presently has an average rating of “Hold” and an average target price of $83.15.
Shares of NYSE LNC opened at $69.02 on Friday. The company has a market cap of $14.91 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 1.01 and a beta of 1.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.11 and a current ratio of 0.11. Lincoln Financial Group has a twelve month low of $67.44 and a twelve month high of $68.31.
Lincoln Financial Group (NYSE:LNC) last announced its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.03. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.80 billion. Lincoln Financial Group had a return on equity of 10.69% and a net margin of 13.90%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 earnings per share. analysts anticipate that Lincoln Financial Group will post 8.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Monday, April 9th. Lincoln Financial Group’s dividend payout ratio (DPR) is presently 16.94%.
Lincoln Financial Group declared that its Board of Directors has authorized a share repurchase program on Friday, January 19th that allows the company to buyback outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Lincoln Financial Group news, EVP Lisa Buckingham sold 24,537 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $78.39, for a total transaction of $1,923,455.43. Following the transaction, the executive vice president now owns 77,135 shares of the company’s stock, valued at $6,046,612.65. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kenneth S. Solon sold 1,875 shares of the business’s stock in a transaction that occurred on 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 directly owns 148,067 shares in the company, valued at approximately $11,627,701.51. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.
Lincoln Financial Group 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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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