Pettyjohn Wood & White Inc. Has $592,000 Position in Lincoln National Corporation (LNC)
Pettyjohn Wood & White Inc. increased its stake in Lincoln National Corporation (NYSE:LNC) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,757 shares of the financial services provider’s stock after purchasing an additional 804 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Lincoln National Corporation were worth $592,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Trust Co. of Vermont purchased a new position in Lincoln National Corporation in the 2nd quarter worth about $101,000. D.A. Davidson & CO. increased its stake in Lincoln National Corporation by 8.6% in 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 stake in Lincoln National Corporation by 15.9% in 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. Stratos Wealth Partners LTD. purchased a new position in Lincoln National Corporation in the 2nd quarter worth about $200,000. Finally, Balentine LLC increased its stake in Lincoln National Corporation by 120.4% in 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. 79.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lincoln National Corporation (LNC) traded up 0.76% during midday trading on Friday, hitting $72.88. The company had a trading volume of 924,648 shares. The firm has a market capitalization of $16.14 billion, a P/E ratio of 11.10 and a beta of 1.98. The firm’s 50-day moving average is $69.75 and its 200-day moving average is $67.84. Lincoln National Corporation has a 12-month low of $44.74 and a 12-month high of $75.78.
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 for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.56 billion. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $1.56 earnings per share. On average, analysts predict that Lincoln National Corporation will post $7.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.59%. Lincoln National Corporation’s dividend payout ratio is 17.79%.
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Several research firms have weighed in on LNC. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Thursday. Citigroup Inc. reaffirmed a “buy” rating and set a $83.00 target price (up previously from $82.00) on shares of Lincoln National Corporation in a research note on Thursday, September 14th. BidaskClub cut Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, Barclays PLC lifted their target price 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Lincoln National Corporation has an average rating of “Hold” and a consensus price target of $74.50.
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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