Lincoln National Corporation (LNC) Shares Bought by Federated Investors Inc. PA
Federated Investors Inc. PA grew its stake in shares of Lincoln National Corporation (NYSE:LNC) by 370.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,806 shares of the financial services provider’s stock after acquiring an additional 16,386 shares during the quarter. Federated Investors Inc. PA’s holdings in Lincoln National Corporation were worth $1,406,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cadence Capital Management LLC increased its position in Lincoln National Corporation by 152.5% during the 2nd quarter. Cadence Capital Management LLC now owns 19,516 shares of the financial services provider’s stock worth $1,319,000 after purchasing an additional 11,788 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Lincoln National Corporation by 1.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 349,131 shares of the financial services provider’s stock worth $23,594,000 after purchasing an additional 3,714 shares in the last quarter. Marshall Wace LLP acquired a new stake in Lincoln National Corporation during the 2nd quarter worth approximately $355,000. Marshall Wace North America L.P. acquired a new stake in Lincoln National Corporation during the 2nd quarter worth approximately $1,143,000. Finally, ALGEBRIS UK Ltd acquired a new stake in Lincoln National Corporation during the 2nd quarter worth approximately $3,818,000. 79.87% of the stock is owned by institutional investors.
A number of research firms recently issued reports on LNC. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 target price for the company in a research report on Tuesday, July 11th. Barclays PLC increased their target price on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a research report on Thursday, June 8th. BidaskClub raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Bank of America Corporation set a $78.00 target price on shares of Lincoln National Corporation in a research report on Tuesday, July 4th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $73.20.
Lincoln National Corporation (NYSE:LNC) opened at 69.24 on Thursday. The firm has a 50-day moving average price of $70.09 and a 200-day moving average price of $67.87. Lincoln National Corporation has a 12-month low of $44.74 and a 12-month high of $75.78. The stock has a market cap of $15.33 billion, a PE ratio of 10.55 and a beta of 1.98.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the business earned $1.56 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts forecast that Lincoln National Corporation will post $7.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 17.79%.
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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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