First Midwest Bank Trust Division boosted its stake in shares of Lincoln National Corp. (NYSE:LNC) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 64,916 shares of the company’s stock after buying an additional 127 shares during the period. First Midwest Bank Trust Division’s holdings in Lincoln National Corp. were worth $2,517,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Aviance Capital Management LLC purchased a new position in shares of Lincoln National Corp. during the second quarter valued at approximately $202,000. UMB Bank N A MO raised its position in Lincoln National Corp. by 57.0% in the second quarter. UMB Bank N A MO now owns 93,395 shares of the company’s stock valued at $3,621,000 after buying an additional 33,920 shares in the last quarter. Cumberland Partners Ltd bought a new position in Lincoln National Corp. during the second quarter valued at about $217,000. Diversified Trust Co raised its position in Lincoln National Corp. by 1.5% in the second quarter. Diversified Trust Co now owns 53,275 shares of the company’s stock valued at $2,065,000 after buying an additional 810 shares in the last quarter. Finally, PGGM Investments raised its position in Lincoln National Corp. by 0.6% in the second quarter. PGGM Investments now owns 173,799 shares of the company’s stock valued at $6,738,000 after buying an additional 1,095 shares in the last quarter. 78.68% of the stock is owned by institutional investors and hedge funds.
Lincoln National Corp. (NYSE:LNC) traded up 1.13% on Wednesday, hitting $46.57. The stock had a trading volume of 1,449,821 shares. Lincoln National Corp. has a 12 month low of $30.39 and a 12 month high of $57.54. The stock has a market cap of $10.84 billion, a P/E ratio of 11.16 and a beta of 2.16. The company’s 50 day moving average is $46.54 and its 200-day moving average is $43.22.
Lincoln National Corp. (NYSE:LNC) last released its earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.58 by $0.02. The firm earned $3.40 billion during 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 EPS. Analysts forecast that Lincoln National Corp. will post $6.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.15%. Lincoln National Corp.’s dividend payout ratio (DPR) is presently 23.92%.
Several equities analysts have recently issued reports on the company. Wells Fargo & Co. assumed coverage on Lincoln National Corp. in a research report on Friday, September 23rd. They issued a “market perform” rating for the company. Zacks Investment Research lowered Lincoln National Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Goldman Sachs Group Inc. lowered Lincoln National Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $51.00 to $46.00 in a research report on Friday, July 15th. Deutsche Bank AG lowered their price target on Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating for the company in a research report on Thursday, July 7th. Finally, Citigroup Inc. lowered their price target on Lincoln National Corp. from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $53.00.
In related news, Director Patrick S. Pittard sold 10,382 shares of Lincoln National Corp. stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $46.67, for a total transaction of $484,527.94. Following the transaction, the director now owns 13,115 shares in the company, valued at $612,077.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lisa Buckingham sold 12,881 shares of Lincoln National Corp. stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total value of $621,637.06. The disclosure for this sale can be found here. 1.41% of the stock is 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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