Lincoln National Corporation (NYSE:LNC) Shares Bought by New Jersey Better Educational Savings Trust
New Jersey Better Educational Savings Trust increased its stake in Lincoln National Corporation (NYSE:LNC) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the financial services provider’s stock after buying an additional 1,000 shares during the period. New Jersey Better Educational Savings Trust’s holdings in Lincoln National Corporation were worth $676,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of LNC. Trust Co. of Vermont acquired a new position in Lincoln National Corporation during the second quarter worth $101,000. SRS Capital Advisors Inc. raised its position in Lincoln National Corporation by 15.9% in the first quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock worth $135,000 after buying an additional 285 shares during the period. Americafirst Capital Management LLC acquired a new position in Lincoln National Corporation during the first quarter worth $150,000. Financial Architects Inc raised its position in Lincoln National Corporation by 109.2% in the first quarter. Financial Architects Inc now owns 2,900 shares of the financial services provider’s stock worth $190,000 after buying an additional 1,514 shares during the period. Finally, Balentine LLC raised its position in Lincoln National Corporation by 120.4% in the first quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock worth $194,000 after buying an additional 1,620 shares during the period. 80.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lincoln National Corporation (LNC) opened at 73.74 on Thursday. Lincoln National Corporation has a 12-month low of $44.68 and a 12-month high of $75.78. The company’s 50-day moving average is $70.43 and its 200-day moving average is $68.14. The stock has a market cap of $16.33 billion, a P/E ratio of 11.23 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 EPS. On average, equities research analysts anticipate that Lincoln National Corporation will post $7.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.57%. The ex-dividend date was Thursday, July 6th. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
A number of research firms have weighed in on LNC. BidaskClub raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Tuesday. Royal Bank Of Canada raised their price objective on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Finally, Bank of America Corporation set a $78.00 price objective on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $73.40.
In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $65.04, for a total transaction of $907,047.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.41% of the stock is currently owned by corporate insiders.
About Lincoln National Corporation
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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