Oppenheimer Asset Management Inc. lowered its stake in Lincoln National Corporation (NYSE:LNC) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,110 shares of the financial services provider’s stock after selling 28,534 shares during the period. Oppenheimer Asset Management Inc. owned about 0.10% of Lincoln National Corporation worth $15,349,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Azimuth Capital Management LLC increased its stake in Lincoln National Corporation by 0.3% in the first quarter. Azimuth Capital Management LLC now owns 7,185 shares of the financial services provider’s stock valued at $470,000 after buying an additional 25 shares during the last quarter. Stratford Consulting LLC increased its stake in Lincoln National Corporation by 0.4% in the first quarter. Stratford Consulting LLC now owns 6,405 shares of the financial services provider’s stock valued at $419,000 after buying an additional 27 shares during the last quarter. Savant Capital LLC increased its stake in Lincoln National Corporation by 0.4% in the second quarter. Savant Capital LLC now owns 6,847 shares of the financial services provider’s stock valued at $463,000 after buying an additional 30 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in Lincoln National Corporation by 1.3% in the first quarter. Tocqueville Asset Management L.P. now owns 4,842 shares of the financial services provider’s stock valued at $317,000 after buying an additional 60 shares during the last quarter. Finally, Financial Architects Inc increased its stake in Lincoln National Corporation by 2.3% in the second quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock valued at $201,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 79.89% of the company’s stock.

Lincoln National Corporation (LNC) opened at 68.41 on Friday. The company’s 50-day moving average is $70.89 and its 200-day moving average is $68.17. The firm has a market capitalization of $15.15 billion, a P/E ratio of 10.42 and a beta of 1.99. Lincoln National Corporation has a 52-week low of $44.74 and a 52-week high of $75.78.

Lincoln National Corporation (NYSE:LNC) last posted its earnings results 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. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the firm posted $1.56 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Lincoln National Corporation will post $7.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.71%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s payout ratio is currently 17.79%.

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Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, July 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. Barclays PLC lifted their price objective on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. BidaskClub downgraded shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation set a $78.00 price objective on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $73.40.

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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Institutional Ownership by Quarter for Lincoln National Corporation (NYSE:LNC)

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