Monarch Capital Management Inc. continued to hold its position in Lincoln National Corp. (NYSE:LNC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,100 shares of the company’s stock at the end of the second quarter. Monarch Capital Management Inc.’s holdings in Lincoln National Corp. were worth $236,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors Inc. raised its position in Lincoln National Corp. by 11.8% in the first quarter. Teachers Advisors Inc. now owns 408,970 shares of the company’s stock valued at $16,032,000 after buying an additional 43,298 shares during the last quarter. JPMorgan Chase & Co. raised its position in Lincoln National Corp. by 10.3% in the first quarter. JPMorgan Chase & Co. now owns 1,774,328 shares of the company’s stock valued at $69,554,000 after buying an additional 165,354 shares during the last quarter. ING Groep NV purchased a new position in Lincoln National Corp. during the first quarter valued at about $216,000. Aviva PLC raised its position in Lincoln National Corp. by 1.0% in the first quarter. Aviva PLC now owns 126,652 shares of the company’s stock valued at $4,965,000 after buying an additional 1,298 shares during the last quarter. Finally, Credit Agricole S A raised its position in Lincoln National Corp. by 56.5% in the first quarter. Credit Agricole S A now owns 372,747 shares of the company’s stock valued at $14,612,000 after buying an additional 134,507 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 1.37% during trading on Friday, reaching $48.90. 1,516,518 shares of the company’s stock were exchanged. The stock has a market cap of $11.38 billion, a PE ratio of 11.72 and a beta of 2.04. The firm has a 50 day moving average of $47.38 and a 200-day moving average of $43.86. 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 data on Wednesday, August 3rd. The company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.58 by $0.02. Lincoln National Corp. had a net margin of 7.71% and a return on equity of 9.27%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the business earned $1.46 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Lincoln National Corp. will post $6.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given 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 dividend yield of 2.04%. Lincoln National Corp.’s dividend payout ratio (DPR) is presently 23.92%.
Several research analysts have issued reports on LNC shares. Bank of America Corp. lowered shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. Evercore ISI started coverage on shares of Lincoln National Corp. in a research note on Wednesday, July 6th. They issued a “buy” rating and a $47.00 price objective for the company. Citigroup Inc. lowered their price objective 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. Deutsche Bank AG lowered their price objective 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. Finally, Goldman Sachs Group Inc. lowered shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $51.00 to $46.00 in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $51.69.
In related news, Director Patrick S. Pittard sold 10,382 shares of the stock in a transaction 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 sale, the director now directly owns 13,115 shares of the company’s stock, valued at $612,077.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Buckingham sold 12,881 shares of the stock in a transaction on 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. Corporate 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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