Lincoln National Corporation (LNC) Shares Sold by Cigna Investments Inc. New
Cigna Investments Inc. New cut its stake in shares of Lincoln National Corporation (NYSE:LNC) by 7.6% during the second quarter, Holdings Channel reports. The firm owned 8,736 shares of the financial services provider’s stock after selling 722 shares during the period. Cigna Investments Inc. New’s holdings in Lincoln National Corporation were worth $590,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. Macquarie Group Ltd. raised its stake in shares of Lincoln National Corporation by 26.0% in the fourth quarter. Macquarie Group Ltd. now owns 9,600 shares of the financial services provider’s stock valued at $637,000 after buying an additional 1,982 shares during the period. Private Trust Co. NA bought a new stake in shares of Lincoln National Corporation during the first quarter valued at approximately $264,000. Americafirst Capital Management LLC bought a new stake in shares of Lincoln National Corporation during the first quarter valued at approximately $150,000. Telemus Capital LLC increased its stake in shares of Lincoln National Corporation by 12.6% in the first quarter. Telemus Capital LLC now owns 15,220 shares of the financial services provider’s stock valued at $996,000 after buying an additional 1,701 shares in the last quarter. Finally, Boston Advisors LLC increased its stake in shares of Lincoln National Corporation by 1.5% in the first quarter. Boston Advisors LLC now owns 45,326 shares of the financial services provider’s stock valued at $2,967,000 after buying an additional 685 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.
Lincoln National Corporation (LNC) opened at 72.16 on Tuesday. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 10.99 and a beta of 1.99. Lincoln National Corporation has a 52-week low of $44.68 and a 52-week high of $75.78. The company’s 50-day moving average price is $70.97 and its 200 day moving average price is $68.21.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) 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 business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the company earned $1.56 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Equities analysts predict that Lincoln National Corporation will post $7.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, October 6th. This represents a $1.16 annualized dividend and a yield of 1.61%. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
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LNC has been the subject of several analyst reports. BidaskClub downgraded Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Royal Bank Of Canada upped their target price on Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Zacks Investment Research downgraded Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, May 4th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $74.10.
In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of Lincoln National Corporation stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $65.04, for a total transaction of $907,047.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.41% of the company’s stock.
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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