Stephens Inc. AR Lowers Position in Lincoln National Co. (LNC)
Stephens Inc. AR lessened its holdings in shares of Lincoln National Co. (NYSE:LNC) by 5.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 21,539 shares of the financial services provider’s stock after selling 1,335 shares during the period. Stephens Inc. AR’s holdings in Lincoln National were worth $1,341,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Lincoln National by 90.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,848,793 shares of the financial services provider’s stock valued at $427,315,000 after acquiring an additional 2,779,947 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Lincoln National by 1,033.3% in the 1st quarter. Schroder Investment Management Group now owns 810,566 shares of the financial services provider’s stock valued at $59,220,000 after purchasing an additional 739,043 shares during the period. Hexavest Inc. bought a new stake in shares of Lincoln National in the 2nd quarter valued at about $39,203,000. BlackRock Inc. raised its holdings in shares of Lincoln National by 3.2% in the 2nd quarter. BlackRock Inc. now owns 19,580,560 shares of the financial services provider’s stock valued at $1,218,887,000 after purchasing an additional 610,043 shares during the period. Finally, Bloom Tree Partners LLC acquired a new position in Lincoln National in the 1st quarter valued at about $31,855,000. 81.07% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Wednesday, July 4th. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 26th. Barclays dropped their price objective on shares of Lincoln National from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. B. Riley dropped their price objective on shares of Lincoln National from $88.00 to $79.00 and set a “neutral” rating for the company in a research note on Monday, July 16th. Finally, Morgan Stanley dropped their price target on shares of Lincoln National from $79.00 to $78.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Lincoln National currently has a consensus rating of “Hold” and a consensus price target of $81.00.
Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $2.02 EPS for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.08). Lincoln National had a net margin of 13.31% and a return on equity of 11.04%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the prior year, the company earned $1.85 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. equities research analysts expect that Lincoln National Co. will post 8.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Tuesday, October 9th. Lincoln National’s dividend payout ratio is presently 16.94%.
About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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