OxFORD Asset Management LLP Boosts Stake in Lincoln National Corporation (LNC)
OxFORD Asset Management LLP raised its stake in Lincoln National Corporation (NYSE:LNC) by 27.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,063 shares of the financial services provider’s stock after acquiring an additional 16,209 shares during the quarter. OxFORD Asset Management LLP’s holdings in Lincoln National Corporation were worth $5,140,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Trust Co. of Vermont bought a new position in shares of Lincoln National Corporation in the second quarter worth about $101,000. D.A. Davidson & CO. lifted its holdings in shares of Lincoln National Corporation by 8.6% in the second quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 136 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Lincoln National Corporation by 15.9% in the first quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 285 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Lincoln National Corporation in the second quarter worth about $200,000. Finally, Balentine LLC lifted its holdings in shares of Lincoln National Corporation by 120.4% in the first quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 1,620 shares during the last quarter. 79.85% of the stock is owned by hedge funds and other institutional investors.
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Lincoln National Corporation (NYSE:LNC) opened at 73.82 on Thursday. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 11.25 and a beta of 1.98. The company has a 50-day moving average of $69.75 and a 200-day moving average of $67.84. 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 issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 return on equity of 10.99% and a net margin of 10.85%. Lincoln National Corporation’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.56 earnings per share. Equities research analysts expect that Lincoln National Corporation will post $7.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
A number of research firms have recently commented on LNC. Zacks Investment Research cut shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. reissued a “buy” rating and issued a $83.00 target price (up previously from $82.00) on shares of Lincoln National Corporation in a report on Thursday, September 14th. Finally, BidaskClub cut shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Lincoln National Corporation currently has a consensus rating of “Hold” and an average target price of $74.50.
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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