Bartlett & Co. LLC cut its stake in Lincoln National Corp. (NYSE:LNC) by 11.1% during the second quarter, Holdings Channel reports. The institutional investor owned 98,301 shares of the company’s stock after selling 12,280 shares during the period. Bartlett & Co. LLC’s holdings in Lincoln National Corp. were worth $3,811,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Lincoln National Corp. during the fourth quarter worth approximately $64,400,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Lincoln National Corp. by 14.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,480 shares of the company’s stock worth $2,292,000 after buying an additional 7,548 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Lincoln National Corp. by 49.5% in the first quarter. Acadian Asset Management LLC now owns 6,922 shares of the company’s stock worth $271,000 after buying an additional 2,293 shares during the last quarter. PGGM Investments raised its position in shares of Lincoln National Corp. by 2.5% in the first quarter. PGGM Investments now owns 172,704 shares of the company’s stock worth $6,770,000 after buying an additional 4,198 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of Lincoln National Corp. by 29.0% in the first quarter. Glenmede Trust Co. NA now owns 53,580 shares of the company’s stock worth $2,099,000 after buying an additional 12,042 shares during the last quarter. Institutional investors and hedge funds own 78.68% of the company’s stock.
Lincoln National Corp. (NYSE:LNC) traded up 1.16% during midday trading on Tuesday, hitting $46.05. 1,240,819 shares of the stock traded hands. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 11.03 and a beta of 2.16. The firm’s 50-day moving average is $46.54 and its 200-day moving average is $43.18. Lincoln National Corp. has a 52-week low of $30.39 and a 52-week high of $57.54.
Lincoln National Corp. (NYSE:LNC) last released its earnings results on Wednesday, August 3rd. The company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.58 by $0.02. Lincoln National Corp. had a return on equity of 9.27% and a net margin of 7.71%. The company earned $3.40 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the firm posted $1.46 EPS. Lincoln National Corp.’s quarterly revenue was down .6% compared to the same quarter last year. Analysts predict that Lincoln National Corp. will post $6.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, October 5th. Lincoln National Corp.’s dividend payout ratio (DPR) is presently 23.92%.
A number of equities analysts have recently commented on LNC shares. Wells Fargo & Co. started coverage on shares of Lincoln National Corp. in a report on Friday. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. FBR & Co reissued a “buy” rating on shares of Lincoln National Corp. in a report on Friday, June 10th. Bank of America Corp. lowered shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. Finally, Deutsche Bank AG decreased their price target on shares of Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating on the stock in a report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.00.
In other news, Director Patrick S. Pittard sold 10,382 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $46.67, for a total value of $484,527.94. Following the transaction, the director now owns 13,115 shares of the company’s stock, valued at $612,077.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Buckingham sold 12,881 shares of the business’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total transaction of $621,637.06. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by insiders.
Lincoln National Corp. 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. It 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 in 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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