HighTower Advisors LLC Acquires 1,270 Shares of Lincoln National Corporation (LNC)
HighTower Advisors LLC increased its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,064 shares of the financial services provider’s stock after purchasing an additional 1,270 shares during the quarter. HighTower Advisors LLC’s holdings in Lincoln National Corporation were worth $814,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Trust Co. of Vermont acquired a new position in Lincoln National Corporation during the second quarter worth $101,000. D.A. Davidson & CO. boosted its holdings in Lincoln National Corporation by 8.6% during the second quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 136 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings 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 worth $135,000 after purchasing an additional 285 shares during the last quarter. Balentine LLC boosted its holdings 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 worth $194,000 after purchasing an additional 1,620 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new position in Lincoln National Corporation during the second quarter worth $200,000. Institutional investors and hedge funds own 79.85% of the company’s stock.
Shares of Lincoln National Corporation (NYSE:LNC) opened at 74.87 on Friday. The firm has a 50-day moving average of $71.23 and a 200-day moving average of $68.72. The firm has a market cap of $16.58 billion, a PE ratio of 11.41 and a beta of 1.99. Lincoln National Corporation has a 52 week low of $47.71 and a 52 week high of $76.10.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. The company had revenue of $3.58 billion for 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 firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 EPS. On average, analysts expect that Lincoln National Corporation will post $7.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.29 dividend. 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 dividend payout ratio (DPR) is currently 17.79%.
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Several research analysts recently commented on the stock. Barclays PLC increased their target price on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and set a $83.00 target price on shares of Lincoln National Corporation in a report on Tuesday, October 10th. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Tuesday, August 8th. Finally, Morgan Stanley increased their price target 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. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Lincoln National Corporation has an average rating of “Hold” and an average price target of $77.11.
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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