Twin Capital Management Inc. decreased its stake in shares of Lincoln National Co. (NYSE:LNC) by 40.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 102,310 shares of the financial services provider’s stock after selling 68,540 shares during the period. Twin Capital Management Inc. owned 0.05% of Lincoln National worth $6,594,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Lincoln National by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,216,834 shares of the financial services provider’s stock worth $113,748,000 after acquiring an additional 57,696 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lincoln National by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,898,554 shares of the financial services provider’s stock worth $148,472,000 after buying an additional 197,294 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Lincoln National in the 1st quarter worth about $330,000. Virtu Financial LLC purchased a new position in shares of Lincoln National in the 1st quarter worth about $414,000. Finally, Retirement Systems of Alabama boosted its holdings in shares of Lincoln National by 8.7% in the 1st quarter. Retirement Systems of Alabama now owns 347,828 shares of the financial services provider’s stock worth $20,418,000 after buying an additional 27,704 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.
In other Lincoln National news, EVP Lisa Buckingham sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.70, for a total value of $532,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christine A. Janofsky sold 7,928 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.62, for a total value of $496,451.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,166 shares of company stock worth $1,785,211. Company insiders own 1.50% of the company’s stock.
Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.04. Lincoln National had a return on equity of 11.85% and a net margin of 8.74%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the business posted $2.02 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts predict that Lincoln National Co. will post 9.3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Wednesday, October 9th. Lincoln National’s dividend payout ratio is presently 17.45%.
A number of equities research analysts recently issued reports on LNC shares. Barclays set a $69.00 price objective on Lincoln National and gave the company a “buy” rating in a research note on Monday. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Goldman Sachs Group upgraded Lincoln National from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $77.00 in a research note on Tuesday, June 25th. JPMorgan Chase & Co. set a $92.00 price target on Lincoln National and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, ValuEngine cut Lincoln National from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $74.36.
About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.
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