Lincoln National Corporation (LNC) Position Cut by 1st Global Advisors Inc.
1st Global Advisors Inc. reduced its position in Lincoln National Corporation (NYSE:LNC) by 1.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,132 shares of the financial services provider’s stock after selling 77 shares during the period. 1st Global Advisors Inc.’s holdings in Lincoln National Corporation were worth $414,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Lincoln National Corporation by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,649,087 shares of the financial services provider’s stock valued at $1,598,205,000 after purchasing an additional 764,714 shares during the last quarter. BlackRock Inc. lifted its stake in Lincoln National Corporation by 1.9% in the 2nd quarter. BlackRock Inc. now owns 18,774,399 shares of the financial services provider’s stock valued at $1,268,774,000 after purchasing an additional 355,633 shares during the last quarter. FMR LLC lifted its stake in Lincoln National Corporation by 1.3% in the 2nd quarter. FMR LLC now owns 7,470,115 shares of the financial services provider’s stock valued at $504,830,000 after purchasing an additional 95,605 shares during the last quarter. LSV Asset Management lifted its stake in Lincoln National Corporation by 3.8% in the 2nd quarter. LSV Asset Management now owns 5,157,271 shares of the financial services provider’s stock valued at $348,528,000 after purchasing an additional 187,800 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 857,436 shares during the last quarter. Institutional investors and hedge funds own 79.80% of the company’s stock.
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Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. Lincoln National Corporation’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.56 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s payout ratio is currently 17.79%.
Several brokerages recently issued reports on LNC. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Thursday, August 24th. Bank of America Corporation set a $78.00 target price on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Royal Bank Of Canada raised their target price on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Morgan Stanley raised their target price on shares of Lincoln National Corporation from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of Lincoln National Corporation in a research note on Wednesday. They issued a “sell” rating and a $71.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $76.50.
Lincoln National Corporation 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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