Dynamic Technology Lab Private Ltd grew its stake in shares of Lincoln National Corporation (NYSE:LNC) by 9.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,949 shares of the financial services provider’s stock after purchasing an additional 1,113 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Lincoln National Corporation were worth $876,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Lincoln National Corporation by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,649,087 shares of the financial services provider’s stock valued at $1,598,205,000 after purchasing an additional 764,714 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Lincoln National Corporation by 1.9% during the second quarter. BlackRock Inc. now owns 18,774,399 shares of the financial services provider’s stock valued at $1,268,774,000 after purchasing an additional 355,633 shares during the last quarter. FMR LLC grew its holdings in shares of Lincoln National Corporation by 1.3% during the second quarter. FMR LLC now owns 7,470,115 shares of the financial services provider’s stock valued at $504,830,000 after purchasing an additional 95,605 shares during the last quarter. LSV Asset Management grew its holdings in shares of Lincoln National Corporation by 3.8% during the second quarter. LSV Asset Management now owns 5,157,271 shares of the financial services provider’s stock valued at $348,528,000 after purchasing an additional 187,800 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Lincoln National Corporation by 32.0% during the second quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock worth $239,047,000 after buying an additional 857,436 shares during the period. 79.80% of the stock is owned by institutional investors.
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Lincoln National Corporation (LNC) traded down 0.50% during midday trading on Tuesday, reaching $75.07. The company’s stock had a trading volume of 234,623 shares. The stock has a market capitalization of $16.62 billion, a price-to-earnings ratio of 11.44 and a beta of 1.99. Lincoln National Corporation has a 52-week low of $47.71 and a 52-week high of $76.10. The firm has a 50-day moving average price of $71.23 and a 200 day moving average price of $68.76.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.56 earnings per share. Equities research analysts predict that Lincoln National Corporation will post $7.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
Several brokerages have recently issued reports on LNC. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Thursday, August 24th. Bank of America Corporation set a $78.00 price objective on Lincoln National Corporation in a research report on Tuesday, July 4th. Royal Bank Of Canada boosted their price objective on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Morgan Stanley boosted their price objective on Lincoln National Corporation from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, BidaskClub downgraded Lincoln National Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $77.11.
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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