Lincoln National Corporation (LNC) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. increased its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 3.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,649,087 shares of the financial services provider’s stock after purchasing an additional 764,714 shares during the quarter. Vanguard Group Inc. owned 10.68% of Lincoln National Corporation worth $1,598,205,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Trust Co. of Vermont acquired a new stake in Lincoln National Corporation during the 2nd quarter worth approximately $101,000. D.A. Davidson & CO. increased its position in Lincoln National Corporation by 8.6% during the 2nd quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 136 shares in the last quarter. SRS Capital Advisors Inc. increased its position in 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 purchasing an additional 285 shares in the last quarter. Balentine LLC increased its position in 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 purchasing an additional 1,620 shares in the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in Lincoln National Corporation during the 2nd quarter worth approximately $200,000. 79.85% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on LNC. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Tuesday, August 8th. BidaskClub raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a research report on Wednesday, August 2nd. Royal Bank Of Canada increased 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 report on Friday, August 4th. Finally, Barclays PLC upped their price target on Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $74.50.
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Shares of Lincoln National Corporation (NYSE LNC) opened at 72.88 on Friday. Lincoln National Corporation has a 52-week low of $44.74 and a 52-week high of $75.78. The company’s 50 day moving average price is $69.75 and its 200 day moving average price is $67.84. The firm has a market capitalization of $16.14 billion, a price-to-earnings ratio of 11.10 and a beta of 1.98.
Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the firm earned $1.56 EPS. Lincoln National Corporation’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts forecast that Lincoln National Corporation will post $7.47 earnings per share for the current year.
The company 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 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s payout ratio is presently 17.79%.
Lincoln National Corporation Profile
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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