Northern Trust Corp lessened its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,358,975 shares of the financial services provider’s stock after selling 6,845 shares during the period. Northern Trust Corp owned about 1.52% of Lincoln National Corporation worth $227,000,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in LNC. BlackRock Inc. increased its holdings in Lincoln National Corporation by 2,922.6% during the 1st quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock valued at $1,205,509,000 after purchasing an additional 17,809,394 shares during the period. Vanguard Group Inc. increased its holdings in Lincoln National Corporation by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock valued at $1,497,782,000 after purchasing an additional 1,215,192 shares during the period. Teachers Advisors LLC increased its holdings in Lincoln National Corporation by 158.6% during the 1st quarter. Teachers Advisors LLC now owns 1,612,351 shares of the financial services provider’s stock valued at $105,528,000 after purchasing an additional 988,753 shares during the period. Janus Capital Management LLC increased its holdings in Lincoln National Corporation by 3,586.0% during the 1st quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock valued at $64,817,000 after purchasing an additional 963,456 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in 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 period. Institutional investors own 79.85% of the company’s stock.
A number of research firms have weighed in on LNC. Zacks Investment Research upgraded 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 Lincoln National Corporation in a report on Tuesday, July 4th. Royal Bank Of Canada upped their target price on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, June 8th. Finally, BidaskClub downgraded Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Lincoln National Corporation currently has an average rating of “Hold” and a consensus target price of $74.50.
Shares of Lincoln National Corporation (NYSE:LNC) opened at 72.88 on Friday. The firm’s 50-day moving average is $69.75 and its 200-day moving average is $67.84. Lincoln National Corporation has a 52 week low of $44.74 and a 52 week high of $75.78. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 11.10 and a beta of 1.98.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts forecast that Lincoln National Corporation will post $7.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, October 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.59%. Lincoln National Corporation’s payout ratio is currently 17.79%.
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Lincoln National Corporation Company 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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