QS Investors LLC lifted its position in shares of Lincoln National Co. (NYSE:LNC) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,115 shares of the financial services provider’s stock after buying an additional 4,240 shares during the period. QS Investors LLC’s holdings in Lincoln National were worth $2,458,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CAPROCK Group Inc. boosted its position in Lincoln National by 2.4% during the second quarter. CAPROCK Group Inc. now owns 12,122 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 279 shares during the last quarter. Franklin Resources Inc. boosted its position in Lincoln National by 41.9% during the second quarter. Franklin Resources Inc. now owns 79,461 shares of the financial services provider’s stock valued at $4,993,000 after purchasing an additional 23,444 shares during the last quarter. Lavaca Capital LLC boosted its position in Lincoln National by 127.5% during the second quarter. Lavaca Capital LLC now owns 18,200 shares of the financial services provider’s stock valued at $1,144,000 after purchasing an additional 10,200 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in Lincoln National during the second quarter valued at approximately $216,000. Finally, Toronto Dominion Bank boosted its position in Lincoln National by 3.3% during the second quarter. Toronto Dominion Bank now owns 99,500 shares of the financial services provider’s stock valued at $6,253,000 after purchasing an additional 3,142 shares during the last quarter. 76.12% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on LNC shares. Royal Bank of Canada increased their price target on Lincoln National from $69.00 to $70.00 and gave the company a “sector perform” rating in a research report on Friday, August 6th. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating and set a $73.00 price objective on the stock. in a research note on Tuesday, October 5th. Barclays upped their price objective on Lincoln National from $69.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler dropped their price objective on Lincoln National from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, July 8th. They noted that the move was a valuation call. Finally, upped their price objective on Lincoln National from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, June 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Lincoln National has a consensus rating of “Hold” and an average target price of $67.57.
Lincoln National (NYSE:LNC) last announced its earnings results on Wednesday, August 4th. The financial services provider reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.87. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.79 billion. Lincoln National had a return on equity of 5.47% and a net margin of 7.43%. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 earnings per share. Analysts forecast that Lincoln National Co. will post 10.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Monday, October 11th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, October 7th. Lincoln National’s dividend payout ratio is currently 37.75%.
In related news, CEO Dennis R. Glass sold 150,000 shares of the stock in a transaction that occurred on Monday, September 27th. The stock was sold at an average price of $72.05, for a total transaction of $10,807,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.89% of the company’s stock.
About Lincoln National
Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. The company operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.
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