Renaissance Technologies LLC boosted its holdings in Lincoln National Co. (NYSE:LNC) by 1,669.8% during the second quarter, Holdings Channel reports. The fund owned 641,974 shares of the financial services provider’s stock after buying an additional 605,700 shares during the period. Renaissance Technologies LLC’s holdings in Lincoln National were worth $39,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atlantic Trust Group LLC lifted its stake in Lincoln National by 6.3% during the first quarter. Atlantic Trust Group LLC now owns 12,251 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 724 shares in the last quarter. Bartlett & Co. LLC lifted its stake in Lincoln National by 6.3% during the second quarter. Bartlett & Co. LLC now owns 12,393 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 737 shares in the last quarter. Freestone Capital Holdings LLC lifted its stake in Lincoln National by 2.4% during the first quarter. Freestone Capital Holdings LLC now owns 31,925 shares of the financial services provider’s stock worth $2,332,000 after purchasing an additional 746 shares in the last quarter. Sigma Planning Corp lifted its stake in Lincoln National by 19.2% during the second quarter. Sigma Planning Corp now owns 4,882 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 788 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Lincoln National by 3.4% during the second quarter. Amalgamated Bank now owns 28,098 shares of the financial services provider’s stock worth $1,749,000 after purchasing an additional 916 shares in the last quarter. Hedge funds and other institutional investors own 81.06% of the company’s stock.

Lincoln National stock opened at $67.24 on Friday. Lincoln National Co. has a twelve month low of $61.18 and a twelve month high of $86.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $13.91 billion, a PE ratio of 8.02 and a beta of 1.94.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.08). Lincoln National had a return on equity of 11.04% and a net margin of 13.31%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the company posted $1.85 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. analysts predict that Lincoln National Co. will post 8.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, October 9th. Lincoln National’s dividend payout ratio is currently 16.94%.

A number of research firms have commented on LNC. Goldman Sachs Group upgraded Lincoln National from a “sell” rating to a “neutral” rating and upped their price target for the stock from $69.00 to $70.00 in a research note on Monday, September 10th. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 22nd. Credit Suisse Group decreased their price target on Lincoln National from $74.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. B. Riley upped their price target on Lincoln National from $79.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. Finally, Royal Bank of Canada restated a “buy” rating and set a $82.00 price target on shares of Lincoln National in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $80.77.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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