Schroder Investment Management Group trimmed its stake in Lincoln National Co. (NYSE:LNC) by 89.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,428 shares of the financial services provider’s stock after selling 63,626 shares during the quarter. Schroder Investment Management Group’s holdings in Lincoln National were worth $545,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Krilogy Financial LLC raised its holdings in shares of Lincoln National by 1.2% in the second quarter. Krilogy Financial LLC now owns 3,460 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 40 shares during the last quarter. Intrust Bank NA raised its holdings in shares of Lincoln National by 0.7% in the second quarter. Intrust Bank NA now owns 10,550 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 71 shares during the last quarter. Conning Inc. raised its holdings in shares of Lincoln National by 1.8% in the second quarter. Conning Inc. now owns 5,746 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 99 shares during the last quarter. First National Trust Co. raised its holdings in shares of Lincoln National by 2.5% in the second quarter. First National Trust Co. now owns 4,290 shares of the financial services provider’s stock worth $290,000 after acquiring an additional 106 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Lincoln National by 1.1% in the second quarter. Synovus Financial Corp now owns 11,803 shares of the financial services provider’s stock worth $798,000 after acquiring an additional 128 shares during the last quarter. 80.44% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on LNC. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a report on Thursday, August 24th. Wells Fargo & Company set a $80.00 price target on Lincoln National and gave the stock a “hold” rating in a report on Thursday, November 16th. ValuEngine cut Lincoln National from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Morgan Stanley boosted their price target on Lincoln National from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, Goldman Sachs Group assumed coverage on Lincoln National in a research report on Wednesday, October 18th. They issued a “sell” rating and a $71.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $78.70.
Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $2.03 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.19. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.62 billion. Lincoln National had a return on equity of 11.16% and a net margin of 10.50%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. analysts expect that Lincoln National Co. will post 7.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Lincoln National’s previous quarterly dividend of $0.29. Lincoln National’s payout ratio is currently 18.15%.
Lincoln National 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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