Lincoln National Corporation (LNC) Shares Bought by Bridgewater Associates LP
Bridgewater Associates LP lifted its position in Lincoln National Corporation (NYSE:LNC) by 66.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,116 shares of the financial services provider’s stock after buying an additional 4,844 shares during the quarter. Bridgewater Associates LP’s holdings in Lincoln National Corporation were worth $819,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new position in Lincoln National Corporation during the 2nd quarter worth $101,000. SRS Capital Advisors Inc. boosted its position in shares of Lincoln National Corporation by 15.9% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 285 shares in the last quarter. Balentine LLC boosted its position in shares of Lincoln National Corporation by 120.4% during the 1st quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 1,620 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Lincoln National Corporation during the 2nd quarter worth about $200,000. Finally, Financial Architects Inc boosted its position in shares of Lincoln National Corporation by 2.3% during the 2nd quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 79.87% of the company’s stock.
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LNC has been the subject of several analyst reports. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, June 5th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. BidaskClub raised Lincoln National Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Finally, Bank of America Corporation set a $78.00 price objective on Lincoln National Corporation in a research note on Tuesday, July 4th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $73.80.
Lincoln National Corporation (LNC) opened at 69.61 on Friday. The firm has a market capitalization of $15.41 billion, a P/E ratio of 10.60 and a beta of 1.98. Lincoln National Corporation has a 1-year low of $44.74 and a 1-year high of $75.78. The company has a 50-day moving average price of $69.86 and a 200-day moving average price of $67.88.
Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 earnings per share. On average, equities research analysts predict that Lincoln National Corporation will post $7.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 annualized dividend and a yield of 1.67%. Lincoln National Corporation’s dividend payout ratio is 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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