ING Groep NV raised its position in Lincoln National Corp. (NYSE:LNC) by 52.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,395 shares of the company’s stock after buying an additional 2,878 shares during the period. ING Groep NV’s holdings in Lincoln National Corp. were worth $325,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Lincoln National Corp. during the second quarter worth about $609,000. Tokio Marine Asset Management Co. Ltd. raised its position in Lincoln National Corp. by 6.5% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,365 shares of the company’s stock worth $363,000 after buying an additional 570 shares in the last quarter. Aviance Capital Management LLC acquired a new position in Lincoln National Corp. during the second quarter worth about $202,000. UMB Bank N A MO raised its position in Lincoln National Corp. by 57.0% in the second quarter. UMB Bank N A MO now owns 93,395 shares of the company’s stock worth $3,621,000 after buying an additional 33,920 shares in the last quarter. Finally, Cumberland Partners Ltd acquired a new position in Lincoln National Corp. during the second quarter worth about $217,000. 78.68% of the stock is owned by institutional investors.
Shares of Lincoln National Corp. (NYSE:LNC) traded up 0.43% on Wednesday, hitting $48.94. 1,249,073 shares of the stock traded hands. The company has a market cap of $11.39 billion, a PE ratio of 11.72 and a beta of 2.04. Lincoln National Corp. has a 12 month low of $30.39 and a 12 month high of $57.54. The firm’s 50 day moving average is $47.16 and its 200-day moving average is $43.73.
Lincoln National Corp. (NYSE:LNC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by $0.02. Lincoln National Corp. had a return on equity of 9.27% and a net margin of 7.71%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the business earned $1.46 earnings per share. Lincoln National Corp.’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that Lincoln National Corp. will post $6.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.05%. The ex-dividend date is Wednesday, October 5th. Lincoln National Corp.’s payout ratio is 23.92%.
Several equities analysts have recently weighed in on LNC shares. Credit Suisse Group AG started coverage on shares of Lincoln National Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $57.00 target price for the company. Zacks Investment Research lowered shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Wells Fargo & Co. started coverage on shares of Lincoln National Corp. in a report on Friday, September 23rd. They set a “market perform” rating for the company. Goldman Sachs Group Inc. lowered shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating and cut their target price for the company from $51.00 to $46.00 in a report on Friday, July 15th. Finally, Deutsche Bank AG cut their target price on shares of Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating for the company in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.69.
In other Lincoln National Corp. news, EVP Lisa Buckingham sold 12,881 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total value of $621,637.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick S. Pittard sold 10,382 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $46.67, for a total value of $484,527.94. Following the completion of the transaction, the director now owns 13,115 shares of the company’s stock, valued at approximately $612,077.05. The disclosure for this sale can be found here. 1.41% of the stock is owned by company insiders.
About Lincoln National Corp.
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. It 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 in the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.