D.A. Davidson & CO. raised its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,726 shares of the financial services provider’s stock after buying an additional 136 shares during the period. D.A. Davidson & CO.’s holdings in Lincoln National Corporation were worth $116,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of LNC. Trust Co. of Vermont purchased a new stake in Lincoln National Corporation during the second quarter valued at about $101,000. SRS Capital Advisors Inc. boosted its position in Lincoln National Corporation by 15.9% during the first quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock valued at $135,000 after buying an additional 285 shares during the period. Balentine LLC boosted its position in Lincoln National Corporation by 120.4% during the first quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock valued at $194,000 after buying an additional 1,620 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Lincoln National Corporation during the second quarter valued at about $200,000. Finally, Financial Architects Inc boosted its position in Lincoln National Corporation by 2.3% during the second quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock valued at $201,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 79.85% of the company’s stock.
Several analysts have issued reports on LNC shares. Zacks Investment Research lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Citigroup Inc. reaffirmed a “buy” rating and set a $83.00 price objective (up from $82.00) on shares of Lincoln National Corporation in a research note on Thursday, September 14th. Bank of America Corporation set a $78.00 price objective on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Finally, BidaskClub downgraded shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Lincoln National Corporation currently has a consensus rating of “Hold” and a consensus price target of $77.11.
Lincoln National Corporation (NYSE:LNC) opened at 75.33 on Wednesday. Lincoln National Corporation has a 52 week low of $47.36 and a 52 week high of $76.10. The stock’s 50 day moving average is $70.53 and its 200 day moving average is $68.52. The company has a market capitalization of $16.68 billion, a P/E ratio of 11.48 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the company earned $1.56 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts expect that Lincoln National Corporation will post $7.48 earnings per share for the current year.
The company 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. The ex-dividend date is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.54%. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
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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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