KBC Group NV cut its stake in Lincoln National Co. (NYSE:LNC) by 16.1% in the second quarter, HoldingsChannel.com reports. The firm owned 22,547 shares of the financial services provider’s stock after selling 4,342 shares during the quarter. KBC Group NV’s holdings in Lincoln National were worth $1,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sigma Planning Corp boosted its stake in shares of Lincoln National by 19.2% during the 2nd quarter. Sigma Planning Corp now owns 4,882 shares of the financial services provider’s stock worth $304,000 after buying an additional 788 shares during the last quarter. IndexIQ Advisors LLC boosted its stake in shares of Lincoln National by 49.8% during the 2nd quarter. IndexIQ Advisors LLC now owns 90,353 shares of the financial services provider’s stock worth $5,624,000 after buying an additional 30,026 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Lincoln National by 5.9% in the 2nd quarter. Victory Capital Management Inc. now owns 96,338 shares of the financial services provider’s stock valued at $5,997,000 after purchasing an additional 5,346 shares during the last quarter. First Trust Advisors LP lifted its stake in Lincoln National by 27.2% in the 2nd quarter. First Trust Advisors LP now owns 470,462 shares of the financial services provider’s stock valued at $29,286,000 after purchasing an additional 100,646 shares during the last quarter. Finally, Endurance Wealth Management Inc. lifted its stake in Lincoln National by 100.0% in the 2nd quarter. Endurance Wealth Management Inc. now owns 4,000 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 2,000 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on LNC. Credit Suisse Group cut their target price on shares of Lincoln National from $74.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday. B. Riley raised their target price on shares of Lincoln National from $79.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Zacks Investment Research downgraded shares of Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 26th. Finally, Barclays cut their target price on shares of Lincoln National from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $81.00.

Lincoln National stock opened at $65.47 on Tuesday. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of 8.15 and a beta of 1.92. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.38. Lincoln National Co. has a twelve month low of $61.18 and a twelve month high of $86.68.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $1.32 annualized dividend and a yield of 2.02%. Lincoln National’s dividend payout ratio is currently 16.94%.

Lincoln National Profile

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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