Bridgeway Capital Management Inc. Has $27,918,000 Stake in Lincoln National Corp. (LNC)
Bridgeway Capital Management Inc. continued to hold its position in shares of Lincoln National Corp. (NYSE:LNC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 720,100 shares of the company’s stock at the end of the second quarter. Bridgeway Capital Management Inc. owned about 0.31% of Lincoln National Corp. worth $27,918,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Barnett & Company Inc. bought a new position in shares of Lincoln National Corp. during the first quarter worth about $104,000. Capital Analysts LLC increased its position in shares of Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock worth $106,000 after buying an additional 594 shares during the last quarter. North Star Investment Management Corp. bought a new position in shares of Lincoln National Corp. during the second quarter worth about $127,000. Societe Generale bought a new position in shares of Lincoln National Corp. during the second quarter worth about $132,000. Finally, Quadrant Capital Group LLC increased its position in shares of Lincoln National Corp. by 0.7% in the second quarter. Quadrant Capital Group LLC now owns 3,896 shares of the company’s stock worth $146,000 after buying an additional 26 shares during the last quarter. 78.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lincoln National Corp. (NYSE:LNC) traded up 1.85% during trading on Friday, reaching $60.11. The company’s stock had a trading volume of 1,936,697 shares. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $60.71. The stock has a market capitalization of $13.74 billion, a PE ratio of 11.36 and a beta of 1.99. The firm’s 50-day moving average is $49.50 and its 200-day moving average is $45.36.
Lincoln National Corp. (NYSE:LNC) last released its earnings results on Thursday, November 3rd. The company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.28. Lincoln National Corp. had a return on equity of 9.89% and a net margin of 9.63%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. Equities analysts expect that Lincoln National Corp. will post $6.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, January 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.93%. This is a positive change from Lincoln National Corp.’s previous quarterly dividend of $0.25. Lincoln National Corp.’s dividend payout ratio (DPR) is currently 18.83%.
A number of brokerages have issued reports on LNC. FBR & Co boosted their price objective on shares of Lincoln National Corp. from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, October 18th. Goldman Sachs Group Inc. downgraded shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $51.00 to $46.00 in a research report on Friday, July 15th. Wells Fargo & Co. assumed coverage on shares of Lincoln National Corp. in a research report on Friday, September 23rd. They set a “market perform” rating on the stock. Zacks Investment Research cut shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, Credit Suisse Group AG assumed coverage on shares of Lincoln National Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $57.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $51.92.
In other news, EVP Lisa Buckingham sold 12,881 shares of the firm’s stock in a transaction on 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 document filed with the SEC, which is accessible through this link. Also, Director Patrick S. Pittard sold 10,382 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $46.67, for a total value of $484,527.94. Following the transaction, the director now owns 13,115 shares in the company, valued at approximately $612,077.05. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.
About Lincoln National Corp.
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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