First National Trust Co. cut its stake in Lincoln National Corp. (NYSE:LNC) by 19.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,077 shares of the company’s stock after selling 2,859 shares during the period. First National Trust Co.’s holdings in Lincoln National Corp. were worth $469,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. ING Groep NV raised its stake in shares of Lincoln National Corp. by 52.2% in the second quarter. ING Groep NV now owns 8,395 shares of the company’s stock valued at $325,000 after buying an additional 2,878 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Lincoln National Corp. during the second quarter valued at approximately $609,000. 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 valued at $363,000 after buying an additional 570 shares during the last quarter. Aviance Capital Management LLC purchased a new stake in shares of Lincoln National Corp. during the second quarter valued at approximately $202,000. Finally, 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 valued at $3,621,000 after buying an additional 33,920 shares during the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.
Lincoln National Corp. (NYSE:LNC) traded up 0.24% during midday trading on Thursday, hitting $49.20. The company had a trading volume of 1,856,498 shares. Lincoln National Corp. has a 1-year low of $30.39 and a 1-year high of $57.54. The company has a 50 day moving average price of $46.89 and a 200 day moving average price of $43.53. The firm has a market capitalization of $11.45 billion, a P/E ratio of 11.79 and a beta of 2.04.
Lincoln National Corp. (NYSE:LNC) last issued its earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by $0.02. The firm earned $3.40 billion during 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 was down .6% on a year-over-year basis. During the same quarter last year, the business earned $1.46 EPS. Equities research analysts forecast that Lincoln National Corp. will post $6.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors 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 dividend on an annualized basis and a yield of 2.03%. Lincoln National Corp.’s dividend payout ratio (DPR) is 23.92%.
Several brokerages recently commented on LNC. Evercore ISI began coverage on Lincoln National Corp. in a report on Wednesday, July 6th. They issued a “buy” rating and a $47.00 price objective for the company. Morgan Stanley reaffirmed a “buy” rating on shares of Lincoln National Corp. in a report on Friday, June 10th. Goldman Sachs Group Inc. lowered Lincoln National Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $51.00 to $46.00 in a report on Friday, July 15th. Wells Fargo & Co. began coverage on Lincoln National Corp. in a report on Friday, September 23rd. They issued a “market perform” rating for the company. Finally, FBR & Co reaffirmed a “buy” rating on shares of Lincoln National Corp. in a report on Friday, June 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $52.36.
In other Lincoln National Corp. news, EVP Lisa Buckingham sold 12,881 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total transaction of $621,637.06. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick S. Pittard sold 10,382 shares of the 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 sale, the director now directly owns 13,115 shares in the company, valued at $612,077.05. 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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