Trust Co. of Vermont acquired a new position in Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,500 shares of the financial services provider’s stock, valued at approximately $101,000.
A number of other hedge funds also recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its position in shares of Lincoln National Corporation by 15.9% in the first quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock worth $135,000 after buying an additional 285 shares during the period. Americafirst Capital Management LLC purchased a new position in Lincoln National Corporation during the first quarter valued at $150,000. Financial Architects Inc increased its position in Lincoln National Corporation by 109.2% in the first quarter. Financial Architects Inc now owns 2,900 shares of the financial services provider’s stock valued at $190,000 after buying an additional 1,514 shares during the last quarter. Balentine LLC increased its position in Lincoln National Corporation by 120.4% in the first quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock valued at $194,000 after buying an additional 1,620 shares during the last quarter. Finally, Global X Management Co. LLC increased its position in Lincoln National Corporation by 29.0% in the first quarter. Global X Management Co. LLC now owns 3,246 shares of the financial services provider’s stock valued at $212,000 after buying an additional 729 shares during the last quarter. 80.15% of the stock is owned by institutional investors.
Shares of Lincoln National Corporation (NYSE LNC) traded down 0.50% during mid-day trading on Friday, hitting $71.40. The stock had a trading volume of 872,429 shares. Lincoln National Corporation has a one year low of $44.68 and a one year high of $75.78. The firm’s 50 day moving average price is $70.60 and its 200-day moving average price is $68.16. The company has a market cap of $15.81 billion, a PE ratio of 10.88 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the business posted $1.56 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts anticipate that Lincoln National Corporation will post $7.45 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.62%. Lincoln National Corporation’s payout ratio is 17.79%.
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LNC has been the topic of a number of analyst reports. Bank of America Corporation set a $78.00 target price on Lincoln National Corporation in a report on Tuesday, July 4th. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Tuesday. BidaskClub upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Keefe, Bruyette & Woods restated a “hold” rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Finally, Wells Fargo & Company restated a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, June 8th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $74.10.
In related news, Director Isaiah Tidwell sold 13,946 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total transaction of $907,047.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.41% of the company’s stock.
About Lincoln National Corporation
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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