CIBC Asset Management Inc Has $1.73 Million Position in Lincoln National Co. (NYSE:LNC)

CIBC Asset Management Inc cut its position in shares of Lincoln National Co. (NYSE:LNC) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,462 shares of the financial services provider’s stock after selling 3,613 shares during the quarter. CIBC Asset Management Inc’s holdings in Lincoln National were worth $1,727,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Lincoln National by 535.5% during the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 905 shares during the period. Larson Financial Group LLC boosted its stake in Lincoln National by 95.3% during the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after buying an additional 530 shares in the last quarter. Eastern Bank bought a new stake in Lincoln National in the 3rd quarter valued at $40,000. Meeder Asset Management Inc. acquired a new position in shares of Lincoln National in the 3rd quarter valued at $48,000. Finally, Crews Bank & Trust bought a new position in shares of Lincoln National during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LNC shares. Barclays increased their price target on shares of Lincoln National from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price target on Lincoln National from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Lincoln National from $28.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Evercore ISI boosted their target price on shares of Lincoln National from $41.00 to $44.00 and gave the company an “in-line” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.10.

Lincoln National Stock Performance

Lincoln National stock opened at $37.55 on Friday. The stock has a 50-day simple moving average of $33.89 and a 200 day simple moving average of $32.93. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 2.04, a P/E/G ratio of 0.30 and a beta of 1.79. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.80. Lincoln National Co. has a 12-month low of $25.60 and a 12-month high of $39.85.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. Lincoln National had a net margin of 17.76% and a return on equity of 18.47%. On average, research analysts anticipate that Lincoln National Co. will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.79%. Lincoln National’s payout ratio is 9.79%.

Lincoln National Company 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.