Summit Securities Group LLC Makes New $571,000 Investment in Lincoln National Co. (NYSE:LNC)

Summit Securities Group LLC acquired a new stake in Lincoln National Co. (NYSE:LNC) during the 4th quarter, Holdings Channel reports. The firm acquired 18,000 shares of the financial services provider’s stock, valued at approximately $571,000.

Other hedge funds have also recently made changes to their positions in the company. M Holdings Securities Inc. purchased a new position in shares of Lincoln National in the fourth quarter worth $29,000. Larson Financial Group LLC boosted its holdings in shares of Lincoln National by 95.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 530 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Lincoln National during the fourth quarter valued at about $36,000. Hillsdale Investment Management Inc. increased its holdings in shares of Lincoln National by 30.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,500 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 350 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Lincoln National in the fourth quarter worth about $51,000. Institutional investors own 72.81% of the company’s stock.

Lincoln National Trading Down 2.9 %

Shares of Lincoln National stock opened at $35.72 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.80. The firm’s 50 day simple moving average is $36.30 and its two-hundred day simple moving average is $33.97. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 1.94, a PEG ratio of 0.30 and a beta of 1.76. Lincoln National Co. has a 12-month low of $25.80 and a 12-month high of $39.85.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.04. Lincoln National had a net margin of 17.76% and a return on equity of 18.47%. Analysts predict that Lincoln National Co. will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Thursday, April 10th. Lincoln National’s dividend payout ratio (DPR) is 9.79%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LNC. Morgan Stanley lifted their price objective on Lincoln National from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Barclays increased their target price on shares of Lincoln National from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Evercore ISI upped their target price on Lincoln National from $41.00 to $44.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price target on shares of Lincoln National from $28.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods increased their price objective on Lincoln National from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Lincoln National presently has an average rating of “Hold” and an average price target of $37.40.

Lincoln National Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.