Pinnacle Associates Ltd. Has $1.43 Million Stock Holdings in Lincoln National Co. (NYSE:LNC)

Pinnacle Associates Ltd. lifted its holdings in Lincoln National Co. (NYSE:LNCGet Rating) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,990 shares of the financial services provider’s stock after purchasing an additional 500 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Lincoln National were worth $1,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. bought a new stake in Lincoln National in the 3rd quarter valued at approximately $32,000. CVA Family Office LLC bought a new stake in Lincoln National in the 4th quarter valued at approximately $42,000. Desjardins Global Asset Management Inc. bought a new stake in Lincoln National in the 4th quarter valued at approximately $42,000. First Horizon Advisors Inc. lifted its stake in Lincoln National by 47.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 740 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 238 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its stake in Lincoln National by 24.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 833 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 84.78% of the company’s stock.

LNC stock opened at $64.21 on Monday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $11.07 billion, a PE ratio of 8.70, a PEG ratio of 0.30 and a beta of 1.99. Lincoln National Co. has a 1-year low of $56.41 and a 1-year high of $77.57. The business’s 50 day simple moving average is $66.89 and its 200 day simple moving average is $69.30.

Lincoln National (NYSE:LNCGet Rating) last posted its earnings results on Wednesday, February 2nd. The financial services provider reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.42). Lincoln National had a return on equity of 7.49% and a net margin of 7.31%. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Lincoln National Co. will post 10.36 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Shareholders of record on Monday, April 11th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, April 8th. Lincoln National’s dividend payout ratio is 24.39%.

Several equities research analysts have commented on LNC shares. Zacks Investment Research cut Lincoln National from a “hold” rating to a “sell” rating and set a $68.00 target price on the stock. in a research note on Tuesday, December 14th. Morgan Stanley dropped their price objective on Lincoln National from $81.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday. Jefferies Financial Group initiated coverage on Lincoln National in a research note on Tuesday, January 25th. They set a “buy” rating and a $80.00 price objective on the stock. StockNews.com initiated coverage on Lincoln National in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group cut Lincoln National from a “buy” rating to a “neutral” rating and set a $74.00 price objective on the stock. in a research note on Tuesday, March 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.85.

Lincoln National Company Profile (Get Rating)

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 fixed, variable, and indexed variable annuities.

See Also

Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Co. (NYSE:LNCGet Rating).

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

Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.