Lincoln National Co. (LNC) Shares Sold by Affinity Investment Advisors LLC
Affinity Investment Advisors LLC reduced its position in shares of Lincoln National Co. (NYSE:LNC) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 162,195 shares of the financial services provider’s stock after selling 2,355 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Lincoln National were worth $10,974,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Lincoln National during the second quarter worth about $128,000. FNY Investment Advisers LLC bought a new stake in shares of Lincoln National during the third quarter worth about $135,000. Twin Tree Management LP bought a new stake in shares of Lincoln National during the third quarter worth about $151,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Lincoln National by 82.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,318 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Lincoln National during the third quarter worth about $167,000. Institutional investors own 82.85% of the company’s stock.
LNC has been the topic of several research reports. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 22nd. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Bank of America reduced their price target on Lincoln National from $79.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Deutsche Bank reduced their price target on Lincoln National from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, November 5th. Finally, Goldman Sachs Group upgraded Lincoln National from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $69.00 to $70.00 in a report on Monday, September 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $76.85.
Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, November 1st. The financial services provider reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.17. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the prior year, the business posted $1.87 earnings per share. The firm’s revenue was up 21.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Lincoln National Co. will post 8.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.33. This represents a $1.48 annualized dividend and a yield of 2.42%. Lincoln National’s dividend payout ratio is presently 16.94%.
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Lincoln National Profile
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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