Macquarie Group Ltd. continued to hold its stake in shares of Lincoln National Corp. (NYSE:LNC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,618 shares of the company’s stock at the end of the second quarter. Macquarie Group Ltd.’s holdings in Lincoln National Corp. were worth $295,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Exxonmobil Investment Management Inc. TX increased its stake in shares of Lincoln National Corp. by 5.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 61,867 shares of the company’s stock valued at $2,399,000 after buying an additional 3,200 shares during the period. Royal Bank of Canada increased its stake in shares of Lincoln National Corp. by 18.7% in the first quarter. Royal Bank of Canada now owns 974,322 shares of the company’s stock valued at $38,194,000 after buying an additional 153,317 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Lincoln National Corp. by 3.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,990,933 shares of the company’s stock valued at $313,245,000 after buying an additional 232,131 shares during the period. Geode Capital Management LLC increased its stake in shares of Lincoln National Corp. by 1.9% in the first quarter. Geode Capital Management LLC now owns 2,156,753 shares of the company’s stock valued at $84,389,000 after buying an additional 39,352 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Lincoln National Corp. by 97.2% in the first quarter. Prudential Financial Inc. now owns 1,976,880 shares of the company’s stock valued at $77,494,000 after buying an additional 974,590 shares during the period. 78.68% of the stock is currently owned by institutional investors.
Lincoln National Corp. (NYSE:LNC) opened at 46.98 on Monday. Lincoln National Corp. has a 52-week low of $30.39 and a 52-week high of $57.54. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 11.26 and a beta of 2.04. The firm’s 50-day moving average is $46.61 and its 200-day moving average is $43.31.
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 firm earned $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. Lincoln National Corp. had a return on equity of 9.27% and a net margin of 7.71%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. Analysts forecast that Lincoln National Corp. will post $6.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. Lincoln National Corp.’s payout ratio is 23.92%.
LNC has been the topic of several recent analyst reports. Wells Fargo & Co. initiated coverage on shares of Lincoln National Corp. in a research note on Friday, September 23rd. They set a “market perform” rating on the stock. Zacks Investment Research cut shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. FBR & Co restated a “buy” rating on shares of Lincoln National Corp. in a report on Friday, June 10th. Bank of America Corp. cut shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. Finally, Deutsche Bank AG lowered 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 analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Lincoln National Corp. has a consensus rating of “Hold” and an average target price of $53.00.
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 sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $46.67, for a total transaction of $484,527.94. Following the sale, the director now owns 13,115 shares in the company, valued at $612,077.05. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.
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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