FSI Group LLC Takes Position in Lincoln National Corporation (LNC)
FSI Group LLC bought a new stake in Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 31,000 shares of the financial services provider’s stock, valued at approximately $2,095,000. Lincoln National Corporation accounts for approximately 1.1% of FSI Group LLC’s investment portfolio, making the stock its 28th largest position.
Several other hedge funds have also added to or reduced their stakes in the company. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in Lincoln National Corporation during the first quarter valued at $472,000. Old Mutual Global Investors UK Ltd. acquired a new stake in Lincoln National Corporation during the first quarter valued at $53,857,000. Hennessy Advisors Inc. acquired a new stake in Lincoln National Corporation during the first quarter valued at $3,639,000. KAMES CAPITAL plc acquired a new stake in Lincoln National Corporation during the first quarter valued at $1,241,000. Finally, IFP Advisors Inc increased its stake in Lincoln National Corporation by 1.8% in the first quarter. IFP Advisors Inc now owns 22,371 shares of the financial services provider’s stock valued at $1,464,000 after buying an additional 385 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.
Shares of Lincoln National Corporation (NYSE LNC) traded up 0.26% during trading on Friday, hitting $68.18. The stock had a trading volume of 1,179,143 shares. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 10.39 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. The company’s 50 day moving average price is $71.19 and its 200 day moving average price is $68.22.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts expect that Lincoln National Corporation will post $7.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 17.79%.
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Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Tuesday, August 8th. BidaskClub upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a research report on Wednesday, August 2nd. Royal Bank Of Canada lifted their target price on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, Barclays PLC lifted their target price on Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Lincoln National Corporation currently has an average rating of “Hold” and a consensus target price of $73.40.
In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $65.04, for a total transaction of $907,047.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.41% of the stock is currently owned by 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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