Bank of The Ozarks Acquires 2,000 Shares of Lincoln National Corporation (NYSE:LNC)
Bank of The Ozarks raised its stake in shares of Lincoln National Corporation (NYSE:LNC) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,920 shares of the financial services provider’s stock after buying an additional 2,000 shares during the period. Lincoln National Corporation comprises about 0.6% of Bank of The Ozarks’ investment portfolio, making the stock its 28th largest position. Bank of The Ozarks’ holdings in Lincoln National Corporation were worth $1,819,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of LNC. Trust Co. of Vermont acquired a new stake in shares of Lincoln National Corporation during the second quarter valued at about $101,000. SRS Capital Advisors Inc. raised its stake 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 valued at $135,000 after buying an additional 285 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Lincoln National Corporation during the first quarter valued at about $150,000. Financial Architects Inc raised its stake in shares of Lincoln National Corporation by 109.2% in the first quarter. Financial Architects Inc now owns 2,900 shares of the financial services provider’s stock valued at $190,000 after buying an additional 1,514 shares during the last quarter. Finally, Balentine LLC raised its stake 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 valued at $194,000 after buying an additional 1,620 shares during the last quarter. Hedge funds and other institutional investors own 80.15% of the company’s stock.
Shares of Lincoln National Corporation (LNC) opened at 73.74 on Thursday. Lincoln National Corporation has a 12-month low of $44.68 and a 12-month high of $75.78. The firm has a 50-day moving average of $70.43 and a 200-day moving average of $68.14. The company has a market cap of $16.61 billion, a P/E ratio of 11.29 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $1.56 earnings per share. Analysts predict that Lincoln National Corporation will post $7.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.29 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.57%. Lincoln National Corporation’s payout ratio is 17.79%.
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Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, July 11th. Bank of America Corporation set a $78.00 price target on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Royal Bank Of Canada boosted their price objective on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, May 4th. Finally, BidaskClub lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Lincoln National Corporation presently has a consensus rating of “Buy” and an average price target of $73.40.
In other news, Director Isaiah Tidwell sold 13,946 shares of Lincoln National Corporation stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.41% of the stock is owned by company insiders.
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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