Cadence Capital Management LLC Has $1.32 Million Position in Lincoln National Corporation (LNC)
Cadence Capital Management LLC raised its position in shares of Lincoln National Corporation (NYSE:LNC) by 152.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,516 shares of the financial services provider’s stock after buying an additional 11,788 shares during the period. Cadence Capital Management LLC’s holdings in Lincoln National Corporation were worth $1,319,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of Lincoln National Corporation by 26.0% in the fourth quarter. Macquarie Group Ltd. now owns 9,600 shares of the financial services provider’s stock worth $637,000 after buying an additional 1,982 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Lincoln National Corporation by 27.3% in the first quarter. Nisa Investment Advisors LLC now owns 64,698 shares of the financial services provider’s stock valued at $4,234,000 after buying an additional 13,875 shares during the period. State of Alaska Department of Revenue purchased a new position in Lincoln National Corporation during the first quarter valued at $258,000. Korea Investment CORP boosted its position in Lincoln National Corporation by 1,057.8% in the first quarter. Korea Investment CORP now owns 417,693 shares of the financial services provider’s stock valued at $27,338,000 after buying an additional 381,618 shares during the period. Finally, ProShare Advisors LLC boosted its position in Lincoln National Corporation by 1.0% in the first quarter. ProShare Advisors LLC now owns 52,106 shares of the financial services provider’s stock valued at $3,410,000 after buying an additional 522 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.
Shares of Lincoln National Corporation (NYSE LNC) opened at 68.00 on Friday. Lincoln National Corporation has a 52-week low of $44.74 and a 52-week high of $75.78. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 10.36 and a beta of 1.99. The stock has a 50 day moving average of $71.23 and a 200 day moving average of $68.23.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the firm posted $1.56 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts expect that Lincoln National Corporation will post $7.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 annualized dividend and a yield of 1.71%. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
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Several research analysts recently weighed in on LNC shares. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, May 4th. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Monday, June 5th. BidaskClub upgraded shares of Lincoln National Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Keefe, Bruyette & Woods restated a “hold” rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Finally, Bank of America Corporation set a $78.00 price target on shares of Lincoln National Corporation in a report on Tuesday, July 4th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $73.40.
In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $65.04, for a total value of $907,047.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.41% of the company’s stock.
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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