Whittier Trust Co. of Nevada Inc. continued to hold its stake in shares of Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent filing with the SEC. The fund owned 1,772 shares of the financial services provider’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Lincoln National Corporation were worth $120,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of LNC. Trust Co. of Vermont purchased a new stake in shares of Lincoln National Corporation during the second quarter valued at about $101,000. SRS Capital Advisors Inc. increased its position 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 position in Lincoln National Corporation during the first quarter valued at $150,000. Financial Architects Inc increased its position in shares of 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 during the period. Finally, Balentine LLC boosted its stake in shares of 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. 80.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lincoln National Corporation (NYSE:LNC) traded down 1.26% during trading on Friday, reaching $68.02. The company had a trading volume of 2,692,923 shares. The firm’s 50 day moving average price is $71.40 and its 200 day moving average price is $68.25. The firm has a market capitalization of $15.06 billion, a P/E ratio of 10.36 and a beta of 1.99. Lincoln National Corporation has a 12 month low of $44.68 and a 12 month high of $75.78.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that Lincoln National Corporation will post $7.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.29 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.71%. Lincoln National Corporation’s payout ratio is currently 17.79%.
Several equities research analysts have weighed in on LNC shares. BidaskClub cut Lincoln National Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Keefe, Bruyette & Woods restated a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a research note on Wednesday, August 2nd. Barclays PLC increased their price target 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. Finally, Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, June 5th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Lincoln National Corporation presently 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 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 is available at this hyperlink. 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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