Strs Ohio reduced its stake in shares of Lincoln National Corp. (NYSE:LNC) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,632 shares of the company’s stock after selling 2,931 shares during the period. Strs Ohio’s holdings in Lincoln National Corp. were worth $9,833,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of LNC. Barnett & Company Inc. purchased a new position in Lincoln National Corp. during the first quarter valued at approximately $104,000. Capital Analysts LLC increased its position in Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock valued at $106,000 after buying an additional 594 shares in the last quarter. North Star Investment Management Corp. purchased a new position in Lincoln National Corp. during the second quarter valued at approximately $127,000. ING Groep NV purchased a new position in Lincoln National Corp. during the first quarter valued at approximately $216,000. Finally, Advisor Partners LLC increased its position in Lincoln National Corp. by 4.8% in the first quarter. Advisor Partners LLC now owns 6,330 shares of the company’s stock valued at $248,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.
Shares of Lincoln National Corp. (NYSE:LNC) traded up 2.42% on Friday, hitting $46.98. The company had a trading volume of 1,633,390 shares. The firm’s 50 day moving average price is $46.61 and its 200-day moving average price is $43.31. Lincoln National Corp. has a 52 week low of $30.39 and a 52 week high of $57.54. The stock has a market capitalization of $10.94 billion, a PE ratio of 11.26 and a beta of 2.16.
Lincoln National Corp. (NYSE:LNC) last issued 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 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 company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. Analysts forecast that Lincoln National Corp. will post $6.07 earnings per share for the current fiscal 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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.13%. The ex-dividend date is Wednesday, October 5th. Lincoln National Corp.’s dividend payout ratio is presently 23.92%.
Several research firms have commented on LNC. Evercore ISI began coverage on Lincoln National Corp. in a research report on Wednesday, July 6th. They issued a “buy” rating and a $47.00 target price for the company. Morgan Stanley reiterated a “buy” rating on shares of Lincoln National Corp. in a research report on Friday, June 10th. Goldman Sachs Group Inc. downgraded Lincoln National Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $51.00 to $46.00 in a research report on Friday, July 15th. Wells Fargo & Co. assumed coverage on Lincoln National Corp. in a research report on Friday, September 23rd. They set a “market perform” rating for the company. Finally, FBR & Co restated a “buy” rating on shares of Lincoln National Corp. in a research report on Friday, June 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned 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, EVP Lisa Buckingham sold 12,881 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total transaction of $621,637.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick S. Pittard sold 10,382 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $46.67, for a total value of $484,527.94. Following the sale, the director now 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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