PNC Financial Services Group Inc. trimmed its position in Lincoln National Corporation (NYSE:LNC) by 6.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 277,643 shares of the financial services provider’s stock after selling 20,701 shares during the period. PNC Financial Services Group Inc. owned 0.13% of Lincoln National Corporation worth $18,763,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in LNC. Laurion Capital Management LP increased its holdings in Lincoln National Corporation by 2,842.9% in the second quarter. Laurion Capital Management LP now owns 117,600 shares of the financial services provider’s stock valued at $7,947,000 after purchasing an additional 113,604 shares during the period. Stevens Capital Management LP increased its holdings in Lincoln National Corporation by 15.9% in the second quarter. Stevens Capital Management LP now owns 142,251 shares of the financial services provider’s stock valued at $9,613,000 after purchasing an additional 19,505 shares during the period. BlueMountain Capital Management LLC increased its holdings in Lincoln National Corporation by 12.5% in the second quarter. BlueMountain Capital Management LLC now owns 13,959 shares of the financial services provider’s stock valued at $943,000 after purchasing an additional 1,548 shares during the period. Amalgamated Bank increased its holdings in Lincoln National Corporation by 54.3% in the second quarter. Amalgamated Bank now owns 25,824 shares of the financial services provider’s stock valued at $1,745,000 after purchasing an additional 9,085 shares during the period. Finally, BlackRock Inc. increased its holdings in Lincoln National Corporation by 1.9% in the second quarter. BlackRock Inc. now owns 18,774,399 shares of the financial services provider’s stock valued at $1,268,774,000 after purchasing an additional 355,633 shares during the period. Institutional investors own 79.85% of the company’s stock.

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Shares of Lincoln National Corporation (NYSE LNC) opened at 71.51 on Wednesday. The firm has a market capitalization of $15.84 billion, a P/E ratio of 10.89 and a beta of 1.98. Lincoln National Corporation has a one year low of $44.74 and a one year high of $75.78. The firm’s 50-day moving average price is $69.75 and its 200-day moving average price is $67.84.

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 consensus estimate of $1.73 by $0.12. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.56 earnings per share. On average, equities analysts forecast that Lincoln National Corporation will post $7.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.

A number of research firms recently weighed in on LNC. Zacks Investment Research upgraded 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 Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada increased their price objective on Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Barclays PLC increased their price objective on Lincoln National Corporation from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Lincoln National Corporation has an average rating of “Hold” and a consensus target price 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.

Institutional Ownership by Quarter for Lincoln National Corporation (NYSE:LNC)

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