Investec Asset Management LTD Acquires 46,531 Shares of Lincoln National Corporation (LNC)
Investec Asset Management LTD raised its holdings in Lincoln National Corporation (NYSE:LNC) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 783,239 shares of the financial services provider’s stock after acquiring an additional 46,531 shares during the period. Investec Asset Management LTD owned approximately 0.35% of Lincoln National Corporation worth $52,931,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Lincoln National Corporation by 32.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after acquiring an additional 857,436 shares during the last quarter. Prudential Financial Inc. raised its holdings in Lincoln National Corporation by 42.2% in the 2nd quarter. Prudential Financial Inc. now owns 961,078 shares of the financial services provider’s stock valued at $64,950,000 after acquiring an additional 285,168 shares during the last quarter. Todd Asset Management LLC raised its holdings in Lincoln National Corporation by 57.5% in the 2nd quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock valued at $47,659,000 after acquiring an additional 257,581 shares during the last quarter. CWM LLC acquired a new stake in Lincoln National Corporation in the 2nd quarter valued at about $211,000. Finally, American Century Companies Inc. acquired a new stake in Lincoln National Corporation in the 1st quarter valued at about $6,437,000. Institutional investors own 79.85% of the company’s stock.
Lincoln National Corporation (NYSE:LNC) traded up 0.47% during mid-day trading on Monday, hitting $69.94. 102,229 shares of the stock traded hands. Lincoln National Corporation has a 12-month low of $44.74 and a 12-month high of $75.78. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 10.66 and a beta of 1.98. The firm’s 50-day moving average is $69.86 and its 200-day moving average is $67.88.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. The business had revenue of $3.58 billion during 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 company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 earnings per share. Equities research analysts expect that Lincoln National Corporation will post $7.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
A number of analysts have commented on LNC shares. BidaskClub downgraded shares of Lincoln National Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Tuesday, September 12th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $83.00 price objective (up previously from $82.00) on shares of Lincoln National Corporation in a report on Thursday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $73.80.
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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