Lincoln National Corporation (LNC) Stake Held by Private Ocean LLC
Private Ocean LLC maintained its position in shares of Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,930 shares of the financial services provider’s stock at the end of the second quarter. Private Ocean LLC’s holdings in Lincoln National Corporation were worth $130,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of LNC. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of Lincoln National Corporation by 2.8% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 35,830 shares of the financial services provider’s stock valued at $2,345,000 after buying an additional 980 shares during the last quarter. North Star Investment Management Corp. increased its position in Lincoln National Corporation by 17.7% in the first quarter. North Star Investment Management Corp. now owns 3,866 shares of the financial services provider’s stock valued at $253,000 after buying an additional 580 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in Lincoln National Corporation by 10.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 19,664 shares of the financial services provider’s stock valued at $1,287,000 after buying an additional 1,797 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Lincoln National Corporation by 2.1% in the first quarter. Wetherby Asset Management Inc. now owns 6,779 shares of the financial services provider’s stock valued at $443,000 after buying an additional 137 shares in the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp purchased a new position in Lincoln National Corporation during the first quarter valued at about $472,000. 79.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Lincoln National Corporation (LNC) opened at 67.90 on Tuesday. The company has a 50-day moving average price of $71.19 and a 200 day moving average price of $68.22. The company has a market capitalization of $15.04 billion, a PE ratio of 10.34 and a beta of 1.99. Lincoln National Corporation has a one year low of $44.74 and a one year high of $75.78.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the 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 firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the business posted $1.56 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts anticipate that Lincoln National Corporation will post $7.47 EPS for the current year.
The firm 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. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.71%. Lincoln National Corporation’s payout ratio is 17.79%.
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Several research analysts have recently issued reports on LNC shares. BidaskClub downgraded Lincoln National Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Wednesday, August 2nd. Barclays PLC upped their price objective on Lincoln National Corporation from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Finally, 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 note on Monday, June 5th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $73.40.
In other news, Director Isaiah Tidwell sold 13,946 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $65.04, for a total value of $907,047.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.41% of the company’s stock.
Lincoln National Corporation Company 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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