Northwestern Mutual Investment Management Company LLC Sells 36,407 Shares of Lincoln National Corporation (LNC)

Northwestern Mutual Investment Management Company LLC lowered its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 80.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,119 shares of the financial services provider’s stock after selling 36,407 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Lincoln National Corporation were worth $354,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Lincoln National Corporation by 32.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after purchasing an additional 857,436 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Lincoln National Corporation by 42.2% during the 2nd quarter. Prudential Financial Inc. now owns 961,078 shares of the financial services provider’s stock valued at $64,950,000 after purchasing an additional 285,168 shares during the last quarter. Todd Asset Management LLC grew its holdings in shares of Lincoln National Corporation by 57.5% during the 2nd quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock valued at $47,659,000 after purchasing an additional 257,581 shares during the last quarter. CWM LLC bought a new position in shares of Lincoln National Corporation during the 2nd quarter valued at $211,000. Finally, American Century Companies Inc. bought a new position in shares of Lincoln National Corporation during the 1st quarter valued at $6,437,000. 79.87% of the stock is currently owned by institutional investors.

Several research firms recently commented on LNC. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Thursday, August 24th. Bank of America Corporation set a $78.00 target price on shares of Lincoln National Corporation in a report on Tuesday, July 4th. Royal Bank Of Canada increased their target price on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, June 8th. Finally, BidaskClub lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Lincoln National Corporation currently has a consensus rating of “Hold” and an average target price of $73.80.

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Shares of Lincoln National Corporation (LNC) opened at 69.61 on Friday. Lincoln National Corporation has a one year low of $44.74 and a one year high of $75.78. The firm has a 50-day moving average of $69.86 and a 200-day moving average of $67.88. The company has a market cap of $15.41 billion, a price-to-earnings ratio of 10.60 and a beta of 1.98.

Lincoln National Corporation (NYSE:LNC) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the firm posted $1.56 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts forecast that Lincoln National Corporation will post $7.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.

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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Institutional Ownership by Quarter for Lincoln National Corporation (NYSE:LNC)

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