Nisa Investment Advisors LLC decreased its holdings in shares of Lincoln National Co. (NYSE:LNC) by 12.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,983 shares of the financial services provider’s stock after selling 6,461 shares during the period. Nisa Investment Advisors LLC’s holdings in Lincoln National were worth $2,964,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in shares of Lincoln National by 20.9% in the first quarter. Acadian Asset Management LLC now owns 2,072,385 shares of the financial services provider’s stock valued at $121,650,000 after acquiring an additional 357,561 shares during the period. Scout Investments Inc. raised its stake in shares of Lincoln National by 101.1% in the first quarter. Scout Investments Inc. now owns 545,240 shares of the financial services provider’s stock valued at $32,006,000 after purchasing an additional 274,073 shares in the last quarter. Clark Capital Management Group Inc. acquired a new position in shares of Lincoln National in the first quarter valued at $15,969,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Lincoln National by 54.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 711,338 shares of the financial services provider’s stock valued at $41,756,000 after purchasing an additional 252,048 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Lincoln National by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,898,554 shares of the financial services provider’s stock valued at $148,472,000 after purchasing an additional 197,294 shares in the last quarter. 80.26% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on LNC shares. Wells Fargo & Co reiterated a “hold” rating and set a $69.00 price objective on shares of Lincoln National in a research note on Wednesday, July 31st. ValuEngine lowered Lincoln National from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. UBS Group raised their target price on Lincoln National from $67.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Barclays set a $69.00 target price on Lincoln National and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. set a $92.00 target price on Lincoln National and gave the company a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $75.10.
Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.04. Lincoln National had a return on equity of 11.85% and a net margin of 8.74%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the business earned $2.02 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Lincoln National Co. will post 9.3 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Wednesday, October 9th. Lincoln National’s dividend payout ratio (DPR) is currently 17.45%.
In other news, EVP Lisa Buckingham sold 8,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.70, for a total transaction of $532,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Christine A. Janofsky sold 7,928 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.62, for a total value of $496,451.36. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
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 Annuities segment offers variable, fixed, and indexed variable annuities.
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