Dupont Capital Management Corp grew its holdings in shares of Lincoln National Co. (NYSE:LNC) by 155.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,817 shares of the financial services provider’s stock after purchasing an additional 9,629 shares during the period. Dupont Capital Management Corp’s holdings in Lincoln National were worth $582,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in shares of Lincoln National in the 4th quarter worth approximately $2,430,000. Advisors Asset Management Inc. grew its holdings in shares of Lincoln National by 23.3% in the 4th quarter. Advisors Asset Management Inc. now owns 7,080 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 1,337 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Lincoln National by 5.4% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,799 shares of the financial services provider’s stock worth $1,110,000 after acquiring an additional 966 shares during the period. Macquarie Group Ltd. grew its holdings in shares of Lincoln National by 729.9% in the 4th quarter. Macquarie Group Ltd. now owns 36,517 shares of the financial services provider’s stock worth $2,155,000 after acquiring an additional 32,117 shares during the period. Finally, Norges Bank acquired a new stake in shares of Lincoln National in the 4th quarter worth approximately $125,815,000. Institutional investors own 78.31% of the company’s stock.
Shares of Lincoln National stock opened at $37.27 on Friday. Lincoln National Co. has a fifty-two week low of $16.11 and a fifty-two week high of $66.44. The firm has a market cap of $7.14 billion, a PE ratio of 11.43 and a beta of 2.28. The business’s fifty day moving average is $37.08 and its two-hundred day moving average is $40.01. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.41.
Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Lincoln National had a return on equity of 10.01% and a net margin of 3.72%. The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the prior year, the company posted $2.14 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that Lincoln National Co. will post 8.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, August 1st. Shareholders of record on Friday, July 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Thursday, July 9th. Lincoln National’s dividend payout ratio is presently 18.39%.
LNC has been the topic of a number of research reports. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a report on Thursday, July 2nd. B. Riley increased their target price on Lincoln National from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Zacks Investment Research cut Lincoln National from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a report on Thursday, May 28th. Morgan Stanley increased their target price on Lincoln National from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Finally, Credit Suisse Group lowered their target price on Lincoln National from $52.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $42.45.
In other Lincoln National news, Director M Leanne Lachman purchased 3,000 shares of Lincoln National stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $35.59 per share, with a total value of $106,770.00. Corporate insiders own 1.50% of the company’s stock.
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 Annuities segment offers variable, fixed, and indexed variable annuities.
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