SRS Capital Advisors Inc. raised its position in Lincoln National Corporation (NYSE:LNC) by 15.9% during the first quarter, Holdings Channel reports. The fund owned 2,073 shares of the financial services provider’s stock after buying an additional 285 shares during the period. SRS Capital Advisors Inc.’s holdings in Lincoln National Corporation were worth $135,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of LNC. Russell Investments Group Ltd. acquired a new stake in shares of Lincoln National Corporation during the fourth quarter worth about $8,264,000. Cadence Capital Management LLC raised its stake in shares of Lincoln National Corporation by 5.1% in the fourth quarter. Cadence Capital Management LLC now owns 6,461 shares of the financial services provider’s stock worth $428,000 after buying an additional 316 shares during the last quarter. Renaissance Group LLC acquired a new stake in shares of Lincoln National Corporation during the fourth quarter worth about $237,000. FIL Ltd acquired a new stake in shares of Lincoln National Corporation during the fourth quarter worth about $13,708,000. Finally, Brown Advisory Inc. raised its stake in shares of Lincoln National Corporation by 94.5% in the fourth quarter. Brown Advisory Inc. now owns 14,381 shares of the financial services provider’s stock worth $954,000 after buying an additional 6,986 shares during the last quarter. 80.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lincoln National Corporation (NYSE LNC) traded up 0.01% during midday trading on Friday, hitting $68.04. The company had a trading volume of 1,466,720 shares. The company’s 50 day moving average is $66.50 and its 200 day moving average is $67.18. The firm has a market cap of $15.26 billion, a price-to-earnings ratio of 11.16 and a beta of 1.97. Lincoln National Corporation has a one year low of $35.27 and a one year high of $73.31.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.30. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.54 billion. Lincoln National Corporation had a return on equity of 10.70% and a net margin of 10.43%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. Equities analysts forecast that Lincoln National Corporation will post $7.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.70%. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 19.14%.
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LNC has been the topic of a number of research reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $75.00 price objective on shares of Lincoln National Corporation in a report on Tuesday, March 21st. Bank of America Corporation upgraded Lincoln National Corporation from a “neutral” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Thursday, April 6th. They noted that the move was a valuation call. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, May 4th. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Monday, June 5th. Finally, BidaskClub upgraded Lincoln National Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $67.75.
In other news, Director Isaiah Tidwell sold 13,946 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $65.04, for a total transaction of $907,047.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael F. Mee sold 13,574 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $68.62, for a total value of $931,447.88. Following the sale, the director now owns 6,336 shares of the company’s stock, valued at approximately $434,776.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,693 shares of company stock valued at $3,899,915. 1.41% of the stock is currently owned by corporate insiders.
Lincoln National Corporation 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. The Company 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 on 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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