Lincoln National Corporation (LNC) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Lincoln National Corporation (NYSE:LNC) by 101.0% during the second quarter, Holdings Channel reports. The fund owned 223,861 shares of the financial services provider’s stock after buying an additional 112,469 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lincoln National Corporation were worth $15,129,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in LNC. Acadian Asset Management LLC raised its position in shares of Lincoln National Corporation by 2,466.1% in the first quarter. Acadian Asset Management LLC now owns 413,417 shares of the financial services provider’s stock worth $27,056,000 after buying an additional 397,306 shares during the last quarter. CWM LLC bought a new position in shares of Lincoln National Corporation during the second quarter worth $211,000. American Century Companies Inc. bought a new position in shares of Lincoln National Corporation during the first quarter worth $6,437,000. Henderson Group PLC raised its position in shares of Lincoln National Corporation by 2.1% in the first quarter. Henderson Group PLC now owns 29,647 shares of the financial services provider’s stock worth $1,940,000 after buying an additional 600 shares during the last quarter. Finally, Scout Investments Inc. raised its position in shares of Lincoln National Corporation by 44.7% in the first quarter. Scout Investments Inc. now owns 566,385 shares of the financial services provider’s stock worth $22,202,000 after buying an additional 174,899 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.
Lincoln National Corporation (NYSE LNC) opened at 72.17 on Wednesday. Lincoln National Corporation has a 1-year low of $44.68 and a 1-year high of $75.78. The firm has a market capitalization of $15.98 billion, a P/E ratio of 10.99 and a beta of 1.99. The stock’s 50 day moving average is $71.16 and its 200-day moving average is $68.23.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion for 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 business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 EPS. Analysts forecast that Lincoln National Corporation will post $7.45 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders 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 1.61%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s payout ratio is 17.79%.
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LNC has been the subject of a number of research analyst reports. BidaskClub lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Royal Bank Of Canada upped their target price on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Zacks Investment Research lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, May 4th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Lincoln National Corporation presently has an average rating of “Buy” and a consensus target price of $74.10.
In other news, Director Isaiah Tidwell sold 13,946 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.41% of the stock is owned by corporate insiders.
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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