Lincoln National Corporation (LNC) is Poplar Forest Capital LLC’s 4th Largest Position
Poplar Forest Capital LLC cut its holdings in Lincoln National Corporation (NYSE:LNC) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 832,313 shares of the financial services provider’s stock after selling 79,767 shares during the period. Lincoln National Corporation makes up 4.8% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 4th biggest holding. Poplar Forest Capital LLC owned 0.38% of Lincoln National Corporation worth $56,248,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of LNC. Russell Investments Group Ltd. boosted its holdings in Lincoln National Corporation by 1.4% in the first quarter. Russell Investments Group Ltd. now owns 126,797 shares of the financial services provider’s stock worth $8,300,000 after purchasing an additional 1,777 shares in the last quarter. American Century Companies Inc. bought a new stake in Lincoln National Corporation in the first quarter worth $6,437,000. Boston Partners bought a new stake in Lincoln National Corporation in the first quarter worth $576,000. Karp Capital Management Corp bought a new stake in Lincoln National Corporation in the first quarter worth $17,403,000. Finally, Sei Investments Co. boosted its holdings in Lincoln National Corporation by 15.4% in the first quarter. Sei Investments Co. now owns 148,563 shares of the financial services provider’s stock worth $9,724,000 after purchasing an additional 19,798 shares in the last quarter. Hedge funds and other institutional investors own 79.87% of the company’s stock.
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Lincoln National Corporation (NYSE LNC) traded up 0.62% during midday trading on Friday, reaching $69.61. 1,868,518 shares of the company’s stock were exchanged. The company has a market cap of $15.41 billion, a price-to-earnings ratio of 10.60 and a beta of 1.98. The firm has a 50-day moving average price of $69.86 and a 200 day moving average price of $67.88. Lincoln National Corporation has a 52 week low of $44.74 and a 52 week high of $75.78.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. Lincoln National Corporation’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.56 EPS. Analysts anticipate that Lincoln National Corporation will post $7.47 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Tuesday, August 8th. BidaskClub upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada upped their price objective on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, Barclays PLC upped their price objective on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Lincoln National Corporation currently has a consensus rating of “Hold” and a consensus price target of $73.80.
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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