Sei Investments Co. Has $3.92 Million Position in Lincoln National Corporation (LNC)
Sei Investments Co. cut its stake in shares of Lincoln National Corporation (NYSE:LNC) by 61.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,978 shares of the financial services provider’s stock after selling 90,585 shares during the period. Sei Investments Co.’s holdings in Lincoln National Corporation were worth $3,919,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Azimuth Capital Management LLC raised its stake in Lincoln National Corporation by 0.3% in the first quarter. Azimuth Capital Management LLC now owns 7,185 shares of the financial services provider’s stock valued at $470,000 after buying an additional 25 shares during the last quarter. Stratford Consulting LLC raised its stake in Lincoln National Corporation by 0.4% in the first quarter. Stratford Consulting LLC now owns 6,405 shares of the financial services provider’s stock valued at $419,000 after buying an additional 27 shares during the last quarter. Savant Capital LLC raised its stake in Lincoln National Corporation by 0.5% in the first quarter. Savant Capital LLC now owns 6,817 shares of the financial services provider’s stock valued at $446,000 after buying an additional 37 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in Lincoln National Corporation by 1.3% in the first quarter. Tocqueville Asset Management L.P. now owns 4,842 shares of the financial services provider’s stock valued at $317,000 after buying an additional 60 shares during the last quarter. Finally, Financial Architects Inc raised its stake in Lincoln National Corporation by 2.3% in the second quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock valued at $201,000 after buying an additional 68 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.
Lincoln National Corporation (NYSE:LNC) opened at 68.02 on Friday. The firm’s 50-day moving average price is $71.40 and its 200 day moving average price is $68.25. The stock has a market capitalization of $15.06 billion, a P/E ratio of 10.36 and a beta of 1.99. Lincoln National Corporation has a 12-month low of $44.74 and a 12-month high of $75.78.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 earnings per share. On average, equities analysts anticipate that Lincoln National Corporation will post $7.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s payout ratio is currently 17.79%.
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A number of brokerages recently issued reports on LNC. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 price target for the company in a research note on Tuesday, July 11th. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. Barclays PLC raised their price target on Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. BidaskClub raised Lincoln National Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Bank of America Corporation set a $78.00 price target on Lincoln National Corporation in a research note on Tuesday, July 4th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Lincoln National Corporation currently has an average rating of “Buy” and an average price target of $74.10.
In other news, Director Isaiah Tidwell sold 13,946 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $65.04, for a total value of $907,047.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.41% of the stock is currently owned by company insiders.
About Lincoln National Corporation
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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