Blue Bell Private Wealth Management LLC maintained its position in Lincoln National Corp. (NYSE:LNC) during the second quarter, Holdings Channel reports. The fund owned 2,610 shares of the company’s stock at the end of the second quarter. Blue Bell Private Wealth Management LLC’s holdings in Lincoln National Corp. were worth $102,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNC. Pegasus Partners Ltd. purchased a new position in Lincoln National Corp. during the first quarter worth approximately $537,000. Canada Pension Plan Investment Board raised its position in Lincoln National Corp. by 9.2% in the first quarter. Canada Pension Plan Investment Board now owns 279,045 shares of the company’s stock worth $10,939,000 after buying an additional 23,400 shares during the period. Credit Agricole S A raised its position in Lincoln National Corp. by 56.5% in the first quarter. Credit Agricole S A now owns 372,747 shares of the company’s stock worth $14,612,000 after buying an additional 134,507 shares during the period. Aviva PLC raised its position in Lincoln National Corp. by 1.0% in the first quarter. Aviva PLC now owns 126,652 shares of the company’s stock worth $4,965,000 after buying an additional 1,298 shares during the period. Finally, ING Groep NV purchased a new position in Lincoln National Corp. during the first quarter worth approximately $216,000. Hedge funds and other institutional investors own 78.68% of the company’s stock.
Shares of Lincoln National Corp. (NYSE:LNC) traded up 1.37% during trading on Friday, hitting $48.90. 1,516,518 shares of the company traded hands. Lincoln National Corp. has a 52 week low of $30.39 and a 52 week high of $57.54. The company has a 50 day moving average price of $47.31 and a 200 day moving average price of $43.80. The company has a market capitalization of $11.38 billion, a price-to-earnings ratio of 11.72 and a beta of 2.04.
Lincoln National Corp. (NYSE:LNC) last posted its earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Lincoln National Corp. had a net margin of 7.71% and a return on equity of 9.27%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 earnings per share. On average, analysts expect that Lincoln National Corp. will post $6.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.00 annualized dividend and a yield of 2.04%. Lincoln National Corp.’s payout ratio is 23.92%.
A number of research firms have recently issued reports on LNC. Credit Suisse Group AG began coverage on shares of Lincoln National Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $57.00 price objective for the company. Zacks Investment Research downgraded shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Wells Fargo & Co. began coverage on shares of Lincoln National Corp. in a report on Friday, September 23rd. They set a “market perform” rating for the company. Goldman Sachs Group Inc. downgraded shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $51.00 to $46.00 in a report on Friday, July 15th. Finally, Deutsche Bank AG dropped their price objective on shares of Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating for the company in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Lincoln National Corp. has an average rating of “Hold” and an average target price of $51.69.
In related news, EVP Lisa Buckingham sold 12,881 shares of the firm’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $48.26, for a total transaction of $621,637.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patrick S. Pittard sold 10,382 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $46.67, for a total transaction of $484,527.94. Following the transaction, the director now directly owns 13,115 shares of the company’s stock, valued at $612,077.05. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.
About Lincoln National Corp.
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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