Vanguard Group Inc. raised its position in shares of Lincoln National Corp. (NYSE:LNC) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,063,183 shares of the company’s stock after buying an additional 267,632 shares during the period. Vanguard Group Inc. owned 9.05% of Lincoln National Corp. worth $816,621,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of LNC. Bank of Montreal Can purchased a new position in shares of Lincoln National Corp. during the second quarter valued at $84,522,000. Norges Bank purchased a new position in shares of Lincoln National Corp. during the fourth quarter valued at $64,400,000. Prudential Financial Inc. boosted its position in shares of Lincoln National Corp. by 97.2% in the first quarter. Prudential Financial Inc. now owns 1,976,880 shares of the company’s stock valued at $77,494,000 after buying an additional 974,590 shares in the last quarter. Prudential PLC boosted its position in shares of Lincoln National Corp. by 30.6% in the first quarter. Prudential PLC now owns 4,098,900 shares of the company’s stock valued at $160,677,000 after buying an additional 960,600 shares in the last quarter. Finally, Hexavest Inc. purchased a new position in shares of Lincoln National Corp. during the second quarter valued at $24,262,000. 78.68% of the stock is currently owned by institutional investors.
Lincoln National Corp. (NYSE:LNC) traded up 0.57% during midday trading on Tuesday, hitting $45.78. The stock had a trading volume of 181,917 shares. Lincoln National Corp. has a 52 week low of $30.39 and a 52 week high of $57.54. The firm has a market cap of $10.66 billion, a P/E ratio of 10.97 and a beta of 2.16. The stock has a 50-day moving average of $46.54 and a 200-day moving average of $43.18.
Lincoln National Corp. (NYSE:LNC) last released its earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. Lincoln National Corp. had a return on equity of 9.27% and a net margin of 7.71%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. Analysts forecast that Lincoln National Corp. will post $6.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. Lincoln National Corp.’s dividend payout ratio is presently 23.92%.
LNC has been the subject of several research reports. FBR & Co reaffirmed a “buy” rating on shares of Lincoln National Corp. in a research note on Friday, June 10th. Morgan Stanley reaffirmed a “buy” rating on shares of Lincoln National Corp. in a research note on Friday, June 10th. Bank of America Corp. cut Lincoln National Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Evercore ISI initiated coverage on Lincoln National Corp. in a research note on Wednesday, July 6th. They set a “buy” rating and a $47.00 target price for the company. Finally, Citigroup Inc. decreased their target price on Lincoln National Corp. from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Lincoln National Corp. presently has a consensus rating of “Hold” and an average target price of $53.00.
In related news, Director Patrick S. Pittard sold 10,382 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $46.67, for a total value of $484,527.94. Following the completion of the sale, the director now owns 13,115 shares in the company, valued at $612,077.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Buckingham sold 12,881 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $48.26, for a total value of $621,637.06. The disclosure for this sale can be found here. 1.41% of the stock is owned by corporate insiders.
Lincoln National Corp. Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. It operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses in the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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