Lincoln National Corporation (NYSE:LNC) Stake Lowered by Stearns Financial Services Group
Stearns Financial Services Group decreased its stake in Lincoln National Corporation (NYSE:LNC) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,670 shares of the financial services provider’s stock after selling 20 shares during the period. Stearns Financial Services Group’s holdings in Lincoln National Corporation were worth $248,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Vermont bought a new stake in Lincoln National Corporation during the second quarter valued at about $101,000. SRS Capital Advisors Inc. increased its stake 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 valued at $135,000 after buying an additional 285 shares during the period. Americafirst Capital Management LLC bought a new stake in Lincoln National Corporation during the first quarter valued at about $150,000. Financial Architects Inc increased its stake 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 valued at $190,000 after buying an additional 1,514 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new stake in Lincoln National Corporation during the second quarter valued at about $200,000. Institutional investors own 80.15% of the company’s stock.
Lincoln National Corporation (LNC) opened at 73.74 on Thursday. The firm has a market cap of $16.61 billion, a PE ratio of 11.29 and a beta of 1.99. The firm has a 50-day moving average price of $70.43 and a 200 day moving average price of $68.14. Lincoln National Corporation has a 12-month low of $44.68 and a 12-month high of $75.78.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that Lincoln National Corporation will post $7.45 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, July 6th. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
Several research firms recently weighed in on LNC. BidaskClub raised Lincoln National Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a research report on Wednesday, August 2nd. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Tuesday. Royal Bank Of Canada boosted their price objective on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, Bank of America Corporation set a $78.00 price objective on Lincoln National Corporation in a research report on Tuesday, July 4th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $73.40.
In other news, Director Isaiah Tidwell sold 13,946 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $65.04, for a total transaction of $907,047.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.41% of the company’s stock.
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.
Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Corporation (NYSE:LNC).
Receive News & Ratings for Lincoln National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National Corporation and related companies with MarketBeat.com's FREE daily email newsletter.