Lincoln National Corporation (LNC) Shares Sold by Retirement Systems of Alabama
Retirement Systems of Alabama decreased its stake in Lincoln National Corporation (NYSE:LNC) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,943 shares of the financial services provider’s stock after selling 121 shares during the period. Retirement Systems of Alabama’s holdings in Lincoln National Corporation were worth $20,270,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Korea Investment CORP raised its position in Lincoln National Corporation by 1,057.8% in the first quarter. Korea Investment CORP now owns 417,693 shares of the financial services provider’s stock valued at $27,338,000 after buying an additional 381,618 shares during the period. Candriam Luxembourg S.C.A. raised its position in Lincoln National Corporation by 20.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 266,938 shares of the financial services provider’s stock valued at $17,472,000 after buying an additional 45,936 shares during the period. State of Alaska Department of Revenue purchased a new position in Lincoln National Corporation during the first quarter valued at approximately $258,000. Nisa Investment Advisors LLC raised its position in Lincoln National Corporation by 27.3% in the first quarter. Nisa Investment Advisors LLC now owns 64,698 shares of the financial services provider’s stock valued at $4,234,000 after buying an additional 13,875 shares during the period. Finally, Boston Advisors LLC raised its position in Lincoln National Corporation by 1.5% in the first quarter. Boston Advisors LLC now owns 45,326 shares of the financial services provider’s stock valued at $2,967,000 after buying an additional 685 shares during the period. 80.15% of the stock is currently owned by institutional investors.
Shares of Lincoln National Corporation (NYSE:LNC) opened at 74.25 on Monday. The company has a 50 day moving average price of $69.49 and a 200-day moving average price of $67.84. The stock has a market capitalization of $16.72 billion, a P/E ratio of 11.37 and a beta of 1.99. Lincoln National Corporation has a 1-year low of $43.54 and a 1-year high of $74.94.
Lincoln National Corporation (NYSE:LNC) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.73 by $0.12. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period last year, the firm earned $1.56 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Lincoln National Corporation will post $7.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, July 6th. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
A number of research firms have recently issued reports on LNC. BidaskClub raised Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada boosted their target price on Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a report on Tuesday, July 11th. Finally, Bank of America Corporation set a $78.00 target price on Lincoln National Corporation in a report on Tuesday, July 4th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $73.20.
In related news, Director Michael F. Mee sold 30,173 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $68.32, for a total value of $2,061,419.36. Following the sale, the director now directly owns 6,336 shares in the company, valued at approximately $432,875.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Isaiah Tidwell sold 13,946 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,693 shares of company stock worth $3,899,915. 1.41% of the stock is owned by 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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