Bessemer Group Inc. decreased its stake in shares of Lincoln National Corporation (NYSE:LNC) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,866 shares of the financial services provider’s stock after selling 1,650 shares during the period. Bessemer Group Inc.’s holdings in Lincoln National Corporation were worth $2,965,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Lincoln National Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock worth $1,497,782,000 after buying an additional 1,215,192 shares during the last quarter. BlackRock Inc. increased its position in Lincoln National Corporation by 2,922.6% in the first quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock worth $1,205,509,000 after buying an additional 17,809,394 shares during the last quarter. Neuberger Berman Group LLC increased its position in Lincoln National Corporation by 16.7% in the first quarter. Neuberger Berman Group LLC now owns 4,483,836 shares of the financial services provider’s stock worth $293,467,000 after buying an additional 640,510 shares during the last quarter. JPMorgan Chase & Co. increased its position in Lincoln National Corporation by 40.2% in the first quarter. JPMorgan Chase & Co. now owns 2,679,809 shares of the financial services provider’s stock worth $175,392,000 after buying an additional 768,184 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Lincoln National Corporation by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,479,344 shares of the financial services provider’s stock worth $162,267,000 after buying an additional 8,928 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.
Lincoln National Corporation (NYSE LNC) traded down 1.26% during midday trading on Friday, hitting $68.02. 2,692,923 shares of the stock were exchanged. Lincoln National Corporation has a 12 month low of $44.74 and a 12 month high of $75.78. The company has a market cap of $15.06 billion, a PE ratio of 10.36 and a beta of 1.99. The firm’s 50 day moving average price is $71.40 and its 200 day moving average price is $68.25.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. Lincoln National Corporation’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 EPS. On average, equities research analysts forecast that Lincoln National Corporation will post $7.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.71%. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 17.79%.
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A number of equities analysts recently issued reports 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. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. Barclays PLC increased their price target 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 raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Bank of America Corporation set a $78.00 price target on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Lincoln National Corporation currently has an average rating of “Buy” and a consensus target price of $74.10.
In related news, Director Isaiah Tidwell sold 13,946 shares of the business’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 transaction of $907,047.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.41% of the company’s stock.
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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