Shell Asset Management Co. Has $914,000 Stake in Lincoln National Corporation (NYSE:LNC)
Shell Asset Management Co. maintained its position in shares of Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,526 shares of the financial services provider’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Lincoln National Corporation were worth $914,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Parkwood LLC raised its position in shares of Lincoln National Corporation by 4.1% in the second quarter. Parkwood LLC now owns 4,895 shares of the financial services provider’s stock worth $331,000 after buying an additional 195 shares during the last quarter. Paragon Capital Management Ltd bought a new position in shares of Lincoln National Corporation during the second quarter worth approximately $263,000. Acadian Asset Management LLC raised its position in shares of Lincoln National Corporation by 207.0% in the second quarter. Acadian Asset Management LLC now owns 1,269,347 shares of the financial services provider’s stock worth $85,784,000 after buying an additional 855,930 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Lincoln National Corporation by 133.9% in the second quarter. Russell Investments Group Ltd. now owns 296,542 shares of the financial services provider’s stock worth $20,043,000 after buying an additional 169,745 shares during the last quarter. Finally, Regentatlantic Capital LLC raised its position in shares of Lincoln National Corporation by 0.9% in the second quarter. Regentatlantic Capital LLC now owns 21,194 shares of the financial services provider’s stock worth $1,432,000 after buying an additional 180 shares during the last quarter. 80.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lincoln National Corporation (NYSE LNC) opened at 73.74 on Thursday. The firm has a 50-day moving average of $70.43 and a 200-day moving average of $68.14. Lincoln National Corporation has a one year low of $43.54 and a one year high of $75.78. The company has a market cap of $16.61 billion, a price-to-earnings ratio of 11.29 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share. Equities research analysts forecast that Lincoln National Corporation will post $7.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, July 6th. Lincoln National Corporation’s payout ratio is presently 17.79%.
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A number of brokerages have recently commented on LNC. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday. Royal Bank Of Canada increased their target price on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. BidaskClub raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Finally, Bank of America Corporation set a $78.00 target price on shares of Lincoln National Corporation in a report on Tuesday, July 4th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $73.40.
In other news, Director Isaiah Tidwell sold 13,946 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate 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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