Lincoln National Corporation (LNC) Holdings Raised by BlueCrest Capital Management Ltd
BlueCrest Capital Management Ltd boosted its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 1,089.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,581 shares of the financial services provider’s stock after purchasing an additional 122,353 shares during the period. BlueCrest Capital Management Ltd owned about 0.06% of Lincoln National Corporation worth $9,027,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Lincoln National Corporation by 32.0% during the second quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock worth $239,047,000 after purchasing an additional 857,436 shares during the last quarter. Todd Asset Management LLC lifted its stake in Lincoln National Corporation by 57.5% during the second quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock worth $47,659,000 after purchasing an additional 257,581 shares during the last quarter. Prudential Financial Inc. lifted its stake in Lincoln National Corporation by 42.2% during the second quarter. Prudential Financial Inc. now owns 961,078 shares of the financial services provider’s stock worth $64,950,000 after purchasing an additional 285,168 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Lincoln National Corporation by 84.2% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 544,208 shares of the financial services provider’s stock worth $36,777,000 after purchasing an additional 248,800 shares during the last quarter. Finally, CWM LLC bought a new stake in Lincoln National Corporation during the second quarter worth $211,000. Hedge funds and other institutional investors own 79.85% of the company’s stock.
Several research firms have weighed in on LNC. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Thursday, August 24th. Bank of America Corporation set a $78.00 target price on Lincoln National Corporation in a research note on Tuesday, July 4th. Royal Bank Of Canada upped their target price on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Morgan Stanley upped their target price on Lincoln National Corporation from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $75.10.
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Shares of Lincoln National Corporation (LNC) traded down 0.34% on Friday, hitting $74.36. The stock had a trading volume of 274,768 shares. Lincoln National Corporation has a 1-year low of $47.36 and a 1-year high of $76.10. The company has a market capitalization of $16.47 billion, a PE ratio of 11.33 and a beta of 1.99. The firm has a 50-day moving average of $69.93 and a 200 day moving average of $68.23.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the firm posted $1.56 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts anticipate that Lincoln National Corporation will post $7.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
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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