Diversified Trust Co acquired a new position in Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 28,290 shares of the financial services provider’s stock, valued at approximately $1,912,000.
A number of 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 worth $101,000. SRS Capital Advisors Inc. boosted 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 worth $135,000 after buying an additional 285 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in Lincoln National Corporation during the first quarter worth $150,000. Financial Architects Inc boosted 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 worth $190,000 after buying an additional 1,514 shares during the last quarter. Finally, Balentine LLC boosted 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 worth $194,000 after buying an additional 1,620 shares during the last quarter. 80.15% of the stock is owned by institutional investors.
Lincoln National Corporation (NYSE LNC) traded down 0.50% during trading on Friday, reaching $71.40. The company had a trading volume of 872,429 shares. The company has a 50-day moving average of $70.77 and a 200-day moving average of $68.20. Lincoln National Corporation has a 52-week low of $44.68 and a 52-week high of $75.78. The firm has a market capitalization of $15.81 billion, a P/E ratio of 10.88 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 earnings per share. Analysts expect that Lincoln National Corporation will post $7.45 EPS 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 issued a $0.29 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.62%. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
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A number of analysts have weighed in on LNC shares. Bank of America Corporation set a $78.00 price objective on Lincoln National Corporation in a research report on Tuesday, July 4th. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Tuesday, August 8th. BidaskClub raised Lincoln National Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research report on Monday, June 26th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research report on Thursday, June 8th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Lincoln National Corporation currently has a consensus rating of “Buy” and an average price target of $74.10.
In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was 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 is accessible through this link. 1.41% of the stock is currently owned by corporate insiders.
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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