The Kentucky Retirement Systems Takes Position in Lincoln National Corp. (LNC)

The Kentucky Retirement Systems Takes Position in Lincoln National Corp. (LNC)

Kentucky Retirement Systems bought a new stake in Lincoln National Corp. (NYSE:LNC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,325 shares of the company’s stock, valued at approximately $788,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LNC. Capital Analysts LLC raised its position in shares of Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock valued at $106,000 after buying an additional 594 shares during the last quarter. Denali Advisors LLC raised its position in shares of Lincoln National Corp. by 107.7% in the second quarter. Denali Advisors LLC now owns 178,600 shares of the company’s stock valued at $6,924,000 after buying an additional 92,600 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Lincoln National Corp. by 17.4% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 40,450 shares of the company’s stock valued at $1,568,000 after buying an additional 6,000 shares during the last quarter. Cornerstone Investment Partners LLC raised its position in shares of Lincoln National Corp. by 9.3% in the second quarter. Cornerstone Investment Partners LLC now owns 1,971,286 shares of the company’s stock valued at $76,427,000 after buying an additional 168,524 shares during the last quarter. Finally, North Star Investment Management Corp. purchased a new position in shares of Lincoln National Corp. during the second quarter valued at approximately $127,000. Institutional investors own 77.66% of the company’s stock.

Lincoln National Corp. (NYSE:LNC) remained flat at $64.15 during mid-day trading on Friday. The company’s stock had a trading volume of 540,925 shares. Lincoln National Corp. has a 52-week low of $30.39 and a 52-week high of $64.71. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 12.12 and a beta of 1.99. The company’s 50-day moving average is $53.62 and its 200 day moving average is $46.65.

Lincoln National Corp. (NYSE:LNC) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.28. Lincoln National Corp. had a return on equity of 9.89% and a net margin of 9.63%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the previous year, the company posted $1.65 earnings per share. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. Analysts forecast that Lincoln National Corp. will post $6.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.81%. This is a positive change from Lincoln National Corp.’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, January 6th. Lincoln National Corp.’s payout ratio is currently 18.83%.

Several brokerages have recently commented on LNC. Zacks Investment Research upgraded Lincoln National Corp. from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, November 21st. FBR & Co lowered Lincoln National Corp. from an “outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a research report on Wednesday, November 9th. Credit Suisse Group AG began coverage on Lincoln National Corp. in a research report on Friday, October 7th. They issued a “neutral” rating and a $57.00 target price for the company. Finally, Wells Fargo & Co. began coverage on Lincoln National Corp. in a research report on Friday, September 23rd. They issued a “market perform” rating for the company. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Lincoln National Corp. has a consensus rating of “Hold” and a consensus price target of $52.83.

In related news, Director Patrick S. Pittard sold 10,382 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $46.67, for a total transaction of $484,527.94. Following the transaction, the director now directly owns 13,115 shares in the company, valued at $612,077.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Buckingham sold 12,881 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $48.26, for a total value of $621,637.06. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.

Lincoln National Corp. 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. 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.

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