Affinity Investment Advisors LLC Sells 15,467 Shares of Lincoln National Co. (LNC)

Affinity Investment Advisors LLC trimmed its stake in Lincoln National Co. (NYSE:LNC) by 9.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 146,728 shares of the financial services provider’s stock after selling 15,467 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Lincoln National were worth $7,529,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of LNC. State of Alaska Department of Revenue lifted its holdings in shares of Lincoln National by 2.5% during the third quarter. State of Alaska Department of Revenue now owns 53,624 shares of the financial services provider’s stock valued at $3,626,000 after purchasing an additional 1,312 shares during the last quarter. Manning & Napier Group LLC lifted its holdings in shares of Lincoln National by 14.9% during the third quarter. Manning & Napier Group LLC now owns 11,045 shares of the financial services provider’s stock valued at $747,000 after purchasing an additional 1,429 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Lincoln National by 11.7% during the third quarter. DNB Asset Management AS now owns 29,535 shares of the financial services provider’s stock valued at $1,998,000 after purchasing an additional 3,085 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Lincoln National by 23.7% during the third quarter. Bank of Montreal Can now owns 203,275 shares of the financial services provider’s stock valued at $13,755,000 after purchasing an additional 38,946 shares during the last quarter. Finally, Scout Investments Inc. lifted its holdings in shares of Lincoln National by 99.1% during the third quarter. Scout Investments Inc. now owns 569,398 shares of the financial services provider’s stock valued at $38,525,000 after purchasing an additional 283,481 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Shares of LNC opened at $59.18 on Tuesday. The company has a market cap of $12.46 billion, a P/E ratio of 6.98 and a beta of 1.90. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.41. Lincoln National Co. has a twelve month low of $48.07 and a twelve month high of $79.83.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.02. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.22 billion. Lincoln National had a net margin of 9.92% and a return on equity of 12.41%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.98 earnings per share. On average, sell-side analysts anticipate that Lincoln National Co. will post 9.2 EPS for the current fiscal year.

In related news, EVP Jamie Ohl sold 2,152 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $58.00, for a total transaction of $124,816.00. Following the completion of the sale, the executive vice president now owns 12,732 shares of the company’s stock, valued at $738,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.31% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on LNC shares. Zacks Investment Research upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, December 17th. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 13th. Bank of America lowered their target price on shares of Lincoln National from $79.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Finally, Deutsche Bank lowered their target price on shares of Lincoln National from $74.00 to $73.00 and set a “buy” rating for the company in a report on Monday, November 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Lincoln National currently has an average rating of “Hold” and an average price target of $74.69.

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Lincoln National 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.

See Also: Coverage Ratio

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

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