Brown Advisory Inc. purchased a new position in Lincoln National Corp. (NYSE:LNC) during the second quarter, Holdings Channel reports. The institutional investor purchased 7,211 shares of the company’s stock, valued at approximately $280,000.
Several other large investors have also bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Lincoln National Corp. during the second quarter worth $84,522,000. Prudential PLC increased its stake in Lincoln National Corp. by 30.6% in the first quarter. Prudential PLC now owns 4,098,900 shares of the company’s stock worth $160,677,000 after buying an additional 960,600 shares during the period. Hexavest Inc. acquired a new stake in Lincoln National Corp. during the second quarter worth $24,262,000. BlackRock Institutional Trust Company N.A. increased its stake in Lincoln National Corp. by 3.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,990,933 shares of the company’s stock worth $313,245,000 after buying an additional 232,131 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in Lincoln National Corp. during the second quarter worth $7,272,000. 78.68% of the stock is owned by institutional investors and hedge funds.
Lincoln National Corp. (NYSE:LNC) traded up 2.40% during mid-day trading on Wednesday, reaching $48.69. 259,888 shares of the company’s stock traded hands. The stock has a market cap of $11.33 billion, a P/E ratio of 11.67 and a beta of 2.04. The company has a 50 day moving average price of $46.72 and a 200-day moving average price of $43.45. 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 released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by $0.02. Lincoln National Corp. had a return on equity of 9.27% and a net margin of 7.71%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts anticipate that Lincoln National Corp. will post $6.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.00 annualized dividend and a yield of 2.09%. Lincoln National Corp.’s payout ratio is 23.92%.
A number of equities research analysts recently weighed in on LNC shares. Zacks Investment Research downgraded shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday. Evercore ISI began coverage on shares of Lincoln National Corp. in a research note on Wednesday, July 6th. They set a “buy” rating and a $47.00 price target for the company. Bank of America Corp. downgraded shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Citigroup Inc. lowered their target price on shares of 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. Finally, Deutsche Bank AG lowered their target price on shares of Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating for the company in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued 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. has an average rating of “Hold” and a consensus target price of $53.00.
In other Lincoln National Corp. news, EVP Lisa Buckingham sold 12,881 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick S. Pittard sold 10,382 shares of the firm’s 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 owns 13,115 shares of the company’s stock, 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.
Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Corp. (NYSE:LNC).
Receive News & Ratings for Lincoln National Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National Corp. and related companies with MarketBeat.com's FREE daily email newsletter.