Bank of New York Mellon Corp Sells 122,648 Shares of Lincoln National Corporation $LNC

Bank of New York Mellon Corp reduced its position in shares of Lincoln National Corporation (NYSE:LNC) by 6.0% in the 2nd quarter, Holdings Channel reports. The firm owned 1,911,456 shares of the financial services provider’s stock after selling 122,648 shares during the period. Bank of New York Mellon Corp’s holdings in Lincoln National were worth $66,136,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hollencrest Capital Management raised its holdings in shares of Lincoln National by 383.2% during the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider’s stock worth $27,000 after buying an additional 594 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Lincoln National in the second quarter valued at about $29,000. Brooklyn Investment Group raised its stake in Lincoln National by 82.9% during the first quarter. Brooklyn Investment Group now owns 1,156 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 524 shares in the last quarter. Friedenthal Financial bought a new position in shares of Lincoln National in the second quarter worth about $42,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of Lincoln National by 3,927.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,490 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,453 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Analyst Upgrades and Downgrades

LNC has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Lincoln National from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Evercore ISI upped their price target on shares of Lincoln National from $45.00 to $46.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods increased their price target on Lincoln National from $43.00 to $44.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Cfra Research upgraded Lincoln National to a “hold” rating in a research report on Wednesday, August 6th. Finally, Wolfe Research upgraded Lincoln National to a “strong sell” rating in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $42.82.

Lincoln National Trading Up 0.6%

NYSE LNC opened at $41.10 on Monday. The firm has a market capitalization of $7.81 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.50 and a beta of 1.49. The business’s 50-day moving average price is $40.57 and its two-hundred day moving average price is $37.10. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67. Lincoln National Corporation has a 12 month low of $27.58 and a 12 month high of $43.66.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.20. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.80 billion. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.During the same period in the previous year, the firm earned $2.06 earnings per share. On average, analysts expect that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, October 10th. Lincoln National’s dividend payout ratio is currently 16.16%.

Lincoln National Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.