Boston Advisors LLC reduced its stake in Lincoln National Corporation (NYSE:LNC) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,951 shares of the financial services provider’s stock after selling 2,375 shares during the period. Boston Advisors LLC’s holdings in Lincoln National Corporation were worth $2,903,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in LNC. Nisa Investment Advisors LLC increased its stake in shares of Lincoln National Corporation by 27.3% in the first quarter. Nisa Investment Advisors LLC now owns 64,698 shares of the financial services provider’s stock valued at $4,234,000 after buying an additional 13,875 shares during the period. Telemus Capital LLC increased its stake in shares of Lincoln National Corporation by 12.6% in the first quarter. Telemus Capital LLC now owns 15,220 shares of the financial services provider’s stock valued at $996,000 after buying an additional 1,701 shares during the period. Americafirst Capital Management LLC bought a new stake in shares of Lincoln National Corporation during the first quarter valued at about $150,000. Parametrica Management Ltd bought a new stake in shares of Lincoln National Corporation during the first quarter valued at about $701,000. Finally, Private Trust Co. NA bought a new stake in shares of Lincoln National Corporation during the first quarter valued at about $264,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lincoln National Corporation (LNC) traded down 1.26% during trading on Friday, hitting $68.02. The stock had a trading volume of 2,692,923 shares. The stock’s 50 day moving average is $71.40 and its 200 day moving average is $68.25. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 10.36 and a beta of 1.99. Lincoln National Corporation has a 52 week low of $44.74 and a 52 week high of $75.78.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, October 6th. Lincoln National Corporation’s payout ratio is 17.79%.
Several analysts recently issued reports on the company. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, August 8th. BidaskClub raised Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada raised their price target on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, Barclays PLC raised their price target on Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Lincoln National Corporation has an average rating of “Buy” and a consensus price target of $74.10.
In related news, Director Isaiah Tidwell sold 13,946 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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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