Caxton Associates LP Has $460,000 Stake in Lincoln National Corporation (LNC)
Caxton Associates LP grew its stake in Lincoln National Corporation (NYSE:LNC) by 25.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,800 shares of the financial services provider’s stock after acquiring an additional 1,400 shares during the period. Caxton Associates LP’s holdings in Lincoln National Corporation were worth $460,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Azimuth Capital Management LLC grew its holdings in shares of Lincoln National Corporation by 0.3% in the 1st quarter. Azimuth Capital Management LLC now owns 7,185 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 25 shares in the last quarter. Stratford Consulting LLC grew its holdings in Lincoln National Corporation by 0.4% during the second quarter. Stratford Consulting LLC now owns 6,432 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 27 shares during the period. Savant Capital LLC grew its holdings in Lincoln National Corporation by 0.4% during the second quarter. Savant Capital LLC now owns 6,847 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 30 shares during the period. Financial Architects Inc grew its holdings in Lincoln National Corporation by 2.3% during the second quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 68 shares during the period. Finally, Intrust Bank NA grew its holdings in Lincoln National Corporation by 0.7% during the second quarter. Intrust Bank NA now owns 10,550 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 71 shares during the period. Institutional investors own 79.85% of the company’s stock.
Shares of Lincoln National Corporation (LNC) traded down 0.17% during midday trading on Thursday, reaching $75.15. 53,594 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $70.75 and a 200 day moving average price of $68.57. The firm has a market cap of $16.64 billion, a PE ratio of 11.45 and a beta of 1.99. Lincoln National Corporation has a 12 month low of $47.36 and a 12 month high of $76.10.
Lincoln National Corporation (NYSE:LNC) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. The firm 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 company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 EPS. Equities research analysts predict that Lincoln National Corporation will post $7.49 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 17.79%.
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A number of research firms recently commented on LNC. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a report on Thursday, August 24th. Bank of America Corporation set a $78.00 price target on Lincoln National Corporation in a report on Tuesday, July 4th. Royal Bank Of Canada lifted their price target on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Morgan Stanley lifted their price target on Lincoln National Corporation from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, BidaskClub cut Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $77.11.
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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