PGGM Investments raised its position in Lincoln National Corp. (NYSE:LNC) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,799 shares of the company’s stock after buying an additional 1,095 shares during the period. PGGM Investments’ holdings in Lincoln National Corp. were worth $6,738,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LNC. Barnett & Company Inc. acquired a new position in Lincoln National Corp. during the first quarter worth $104,000. Capital Analysts LLC raised its position in Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock worth $106,000 after buying an additional 594 shares during the period. North Star Investment Management Corp. acquired a new position in Lincoln National Corp. during the second quarter worth $127,000. ING Groep NV acquired a new position in Lincoln National Corp. during the first quarter worth $216,000. Finally, Advisor Partners LLC raised its position in Lincoln National Corp. by 4.8% in the first quarter. Advisor Partners LLC now owns 6,330 shares of the company’s stock worth $248,000 after buying an additional 289 shares during the period. 78.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lincoln National Corp. (NYSE:LNC) traded up 2.42% during trading on Friday, hitting $46.98. 1,633,390 shares of the company were exchanged. The company’s 50-day moving average price is $46.61 and its 200 day moving average price is $43.31. The stock has a market cap of $10.94 billion, a P/E ratio of 11.26 and a beta of 2.16. Lincoln National Corp. has a 12 month low of $30.39 and a 12 month high of $57.54.
Lincoln National Corp. (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.58 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Lincoln National Corp. had a return on equity of 9.27% and a net margin of 7.71%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.46 EPS. On average, equities analysts predict that Lincoln National Corp. will post $6.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, October 5th. Lincoln National Corp.’s dividend payout ratio is currently 23.92%.
A number of research analysts have weighed in on LNC shares. Morgan Stanley reissued a “buy” rating on shares of Lincoln National Corp. in a research note on Friday, June 10th. FBR & Co reaffirmed a “buy” rating on shares of Lincoln National Corp. in a research report on Friday, June 10th. Evercore ISI assumed coverage on shares of Lincoln National Corp. in a research report on Wednesday, July 6th. They set a “buy” rating and a $47.00 price target on the stock. Deutsche Bank AG reduced their price target on shares of Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating on the stock in a research report on Thursday, July 7th. Finally, Wells Fargo & Co. assumed coverage on shares of Lincoln National Corp. in a research report on Friday, September 23rd. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $53.00.
In other Lincoln National Corp. news, EVP Lisa Buckingham sold 12,881 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $48.26, for a total transaction of $621,637.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Patrick S. Pittard sold 10,382 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $46.67, for a total transaction of $484,527.94. Following the transaction, the director now directly owns 13,115 shares in the company, valued at approximately $612,077.05. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.
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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