Pacer Advisors Inc. lifted its stake in Lincoln National Corporation (NYSE:LNC) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,834 shares of the financial services provider’s stock after purchasing an additional 374 shares during the period. Pacer Advisors Inc.’s holdings in Lincoln National Corporation were worth $327,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in LNC. BlackRock Inc. increased its holdings in Lincoln National Corporation by 2,922.6% during the 1st quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock valued at $1,205,509,000 after acquiring an additional 17,809,394 shares in the last quarter. Vanguard Group Inc. increased its holdings in Lincoln National Corporation by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock valued at $1,497,782,000 after acquiring an additional 1,215,192 shares in the last quarter. Teachers Advisors LLC increased its holdings in Lincoln National Corporation by 158.6% during the 1st quarter. Teachers Advisors LLC now owns 1,612,351 shares of the financial services provider’s stock valued at $105,528,000 after acquiring an additional 988,753 shares in the last quarter. Janus Capital Management LLC increased its holdings in Lincoln National Corporation by 3,586.0% during the 1st quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock valued at $64,817,000 after acquiring an additional 963,456 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Lincoln National Corporation by 207.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,269,347 shares of the financial services provider’s stock valued at $85,784,000 after acquiring an additional 855,930 shares in the last quarter. Hedge funds and other institutional investors own 79.87% of the company’s stock.
Several research firms have weighed in on LNC. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Tuesday, August 8th. BidaskClub upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada raised their target price on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Barclays PLC raised their target price on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $73.20.
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Shares of Lincoln National Corporation (NYSE LNC) opened at 68.66 on Wednesday. The stock’s 50 day moving average is $70.17 and its 200-day moving average is $67.89. Lincoln National Corporation has a one year low of $44.74 and a one year high of $75.78. The stock has a market capitalization of $15.20 billion, a P/E ratio of 10.46 and a beta of 1.98.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that Lincoln National Corporation will post $7.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
Lincoln National Corporation 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. The Company 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 on 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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