Lincoln National Corporation (LNC) Shares Sold by Financial Counselors Inc.
Financial Counselors Inc. lessened its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,736 shares of the financial services provider’s stock after selling 38 shares during the quarter. Financial Counselors Inc.’s holdings in Lincoln National Corporation were worth $320,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Lincoln National Corporation by 32.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after acquiring an additional 857,436 shares in the last quarter. Prudential Financial Inc. grew its stake in Lincoln National Corporation by 42.2% during the 2nd quarter. Prudential Financial Inc. now owns 961,078 shares of the financial services provider’s stock valued at $64,950,000 after acquiring an additional 285,168 shares in the last quarter. Todd Asset Management LLC grew its stake in Lincoln National Corporation by 57.5% during the 2nd quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock valued at $47,659,000 after acquiring an additional 257,581 shares in the last quarter. CWM LLC purchased a new position in Lincoln National Corporation during the 2nd quarter valued at about $211,000. Finally, American Century Companies Inc. purchased a new position in Lincoln National Corporation during the 1st quarter valued at about $6,437,000. 79.87% of the stock is currently owned by institutional investors.
Lincoln National Corporation (NYSE LNC) opened at 69.24 on Thursday. Lincoln National Corporation has a one year low of $44.74 and a one year high of $75.78. The firm has a 50-day moving average price of $70.09 and a 200 day moving average price of $67.87. The firm has a market capitalization of $15.33 billion, a PE ratio of 10.55 and a beta of 1.98.
Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share 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 business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the company earned $1.56 earnings per share. Lincoln National Corporation’s revenue was up 8.2% compared to the same quarter last year. Analysts anticipate that Lincoln National Corporation will post $7.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio (DPR) is 17.79%.
Several equities analysts have weighed in on the company. 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 research note on Tuesday, July 11th. Barclays PLC lifted their target price on Lincoln National Corporation from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. BidaskClub raised Lincoln National Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Bank of America Corporation set a $78.00 target price on Lincoln National Corporation in a research note on Tuesday, July 4th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $73.20.
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Lincoln National Corporation 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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