Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Lincoln National Corp. (NYSE:LNC) during the second quarter, Holdings Channel reports. The firm purchased 15,720 shares of the company’s stock, valued at approximately $609,000.
Several other hedge funds have also recently modified their holdings of LNC. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Lincoln National Corp. by 6.5% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,365 shares of the company’s stock worth $363,000 after buying an additional 570 shares during the period. Aviance Capital Management LLC purchased a new stake in shares of Lincoln National Corp. during the second quarter worth approximately $202,000. UMB Bank N A MO raised its stake in shares of Lincoln National Corp. by 57.0% in the second quarter. UMB Bank N A MO now owns 93,395 shares of the company’s stock worth $3,621,000 after buying an additional 33,920 shares during the period. Cumberland Partners Ltd purchased a new stake in shares of Lincoln National Corp. during the second quarter worth approximately $217,000. Finally, Diversified Trust Co raised its stake in shares of Lincoln National Corp. by 1.5% in the second quarter. Diversified Trust Co now owns 53,275 shares of the company’s stock worth $2,065,000 after buying an additional 810 shares during the period. Institutional investors own 78.68% of the company’s stock.
Lincoln National Corp. (NYSE:LNC) traded up 2.42% during trading on Friday, hitting $46.98. The stock had a trading volume of 1,633,390 shares. Lincoln National Corp. has a 1-year low of $30.39 and a 1-year high of $57.54. The firm has a 50 day moving average price of $46.58 and a 200-day moving average price of $43.27. The firm has a market capitalization of $10.94 billion, a PE ratio of 11.26 and a beta of 2.16.
Lincoln National Corp. (NYSE:LNC) last issued its earnings results on Wednesday, August 3rd. The company reported $1.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by $0.02. The firm earned $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. Lincoln National Corp. had a net margin of 7.71% and a return on equity of 9.27%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, equities research analysts expect that Lincoln National Corp. will post $6.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. Lincoln National Corp.’s dividend payout ratio is presently 23.92%.
A number of analysts have recently commented on the company. Wells Fargo & Co. assumed coverage on Lincoln National Corp. in a report on Friday, September 23rd. They issued a “market perform” rating on the stock. Zacks Investment Research lowered Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Goldman Sachs Group Inc. lowered Lincoln National Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $51.00 to $46.00 in a report on Friday, July 15th. Deutsche Bank AG dropped their target price on Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating on the stock in a report on Thursday, July 7th. Finally, Citigroup Inc. dropped their target price on Lincoln National Corp. from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, July 7th. Two investment 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 stock. Lincoln National Corp. currently has a consensus rating of “Hold” and a consensus target price of $53.00.
In other news, EVP Lisa Buckingham sold 12,881 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total value of $621,637.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick S. Pittard sold 10,382 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were 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 of the company’s stock, valued at $612,077.05. The disclosure for this sale can be found here. 1.41% of the stock is owned by insiders.
About Lincoln National Corp.
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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