Stratos Wealth Partners LTD. Takes Position in Lincoln National Corporation (LNC)
Stratos Wealth Partners LTD. purchased a new stake in shares of Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,955 shares of the financial services provider’s stock, valued at approximately $200,000.
Several other hedge funds also recently bought and sold shares of LNC. Trust Co. of Vermont bought a new stake in Lincoln National Corporation during the second quarter valued at $101,000. SRS Capital Advisors Inc. increased its stake in Lincoln National Corporation by 15.9% in the first quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock valued at $135,000 after buying an additional 285 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in Lincoln National Corporation during the first quarter valued at $150,000. Financial Architects Inc increased its stake in Lincoln National Corporation by 109.2% in the first quarter. Financial Architects Inc now owns 2,900 shares of the financial services provider’s stock valued at $190,000 after buying an additional 1,514 shares in the last quarter. Finally, Balentine LLC increased its stake in Lincoln National Corporation by 120.4% in the first quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock valued at $194,000 after buying an additional 1,620 shares in the last quarter. 80.15% of the stock is owned by hedge funds and other institutional investors.
Lincoln National Corporation (NYSE:LNC) opened at 71.40 on Friday. Lincoln National Corporation has a 52 week low of $44.74 and a 52 week high of $75.78. The company has a 50-day moving average of $70.77 and a 200-day moving average of $68.20. The company has a market cap of $15.81 billion, a P/E ratio of 10.88 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the company posted $1.56 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that Lincoln National Corporation will post $7.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a $0.29 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.16 annualized dividend and a yield of 1.62%. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 price target for the company in a research note on Tuesday, July 11th. Bank of America Corporation set a $78.00 price target on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Royal Bank Of Canada lifted their price target on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, May 4th. Finally, BidaskClub downgraded shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $74.10.
In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company 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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