Lincoln National Corporation (LNC) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Lincoln National Corporation (NYSE:LNC) by 15.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,163 shares of the financial services provider’s stock after buying an additional 7,404 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Lincoln National Corporation were worth $3,795,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. increased 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 during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Lincoln National Corporation during the first quarter worth $258,000. ProShare Advisors LLC increased its position in shares of 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 worth $3,410,000 after buying an additional 522 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Lincoln National Corporation by 164.1% in the first quarter. Janney Montgomery Scott LLC now owns 21,717 shares of the financial services provider’s stock worth $1,421,000 after buying an additional 13,494 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Lincoln National Corporation by 1.4% in the first quarter. Russell Investments Group Ltd. now owns 126,797 shares of the financial services provider’s stock worth $8,300,000 after buying an additional 1,777 shares during the last quarter. Hedge funds and other institutional investors own 79.89% of the company’s stock.
Shares of Lincoln National Corporation (NYSE:LNC) opened at 67.90 on Tuesday. The firm’s 50-day moving average is $71.19 and its 200-day moving average is $68.22. The company has a market cap of $15.04 billion, a PE ratio of 10.34 and a beta of 1.99. Lincoln National Corporation has a one year low of $44.74 and a one year high of $75.78.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 earnings per share. On average, equities analysts anticipate that Lincoln National Corporation will post $7.47 EPS for the current year.
The firm 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. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.71%. Lincoln National Corporation’s payout ratio is currently 17.79%.
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LNC has been the topic of a number of research analyst reports. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, May 4th. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Monday, June 5th. BidaskClub upgraded Lincoln National Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Finally, Bank of America Corporation set a $78.00 price objective on Lincoln National Corporation in a research note on Tuesday, July 4th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Lincoln National Corporation presently has a consensus rating of “Hold” and a consensus price target of $73.40.
In other news, Director Isaiah Tidwell sold 13,946 shares of the stock in a transaction on Thursday, June 1st. The shares were 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 hyperlink. 1.41% of the stock is owned by corporate insiders.
Lincoln National Corporation Company Profile
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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