Wafra Investment Advisory Group Inc. NY Has $10.16 Million Stake in Lincoln National Corporation (LNC)

Wafra Investment Advisory Group Inc. NY reduced its stake in Lincoln National Corporation (NYSE:LNC) by 42.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150,310 shares of the financial services provider’s stock after selling 109,869 shares during the period. Wafra Investment Advisory Group Inc. NY owned approximately 0.07% of Lincoln National Corporation worth $10,158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in LNC. AXA bought a new stake in shares of Lincoln National Corporation in the 1st quarter valued at approximately $341,000. ZWJ Investment Counsel Inc. bought a new stake in shares of Lincoln National Corporation in the 1st quarter valued at approximately $517,000. First Business Financial Services Inc. bought a new stake in shares of Lincoln National Corporation in the 1st quarter valued at approximately $519,000. United Services Automobile Association grew its stake in shares of Lincoln National Corporation by 3.8% in the 1st quarter. United Services Automobile Association now owns 77,406 shares of the financial services provider’s stock valued at $5,066,000 after purchasing an additional 2,805 shares during the period. Finally, OppenheimerFunds Inc. grew its stake in shares of Lincoln National Corporation by 0.4% in the 1st quarter. OppenheimerFunds Inc. now owns 501,025 shares of the financial services provider’s stock valued at $32,793,000 after purchasing an additional 2,140 shares during the period. Institutional investors own 79.85% of the company’s stock.

Lincoln National Corporation (NYSE LNC) traded up 0.54% during midday trading on Tuesday, reaching $75.10. The company had a trading volume of 280,836 shares. Lincoln National Corporation has a one year low of $47.36 and a one year high of $76.10. The stock’s 50 day moving average is $70.30 and its 200 day moving average is $68.43. The company has a market capitalization of $16.63 billion, a PE ratio of 11.44 and a beta of 1.99.

Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that Lincoln National Corporation will post $7.48 earnings per share for the current fiscal year.

The company also recently disclosed 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. The ex-dividend date is Friday, October 6th. This represents a $1.16 annualized dividend and a yield of 1.55%. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.

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Several equities research analysts have recently weighed in on LNC shares. BidaskClub lowered Lincoln National Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research lowered Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a research note on Wednesday, August 2nd. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $83.00 price objective (up from $82.00) on shares of Lincoln National Corporation in a research note on Thursday, September 14th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $77.11.

Lincoln National Corporation 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. 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.

Institutional Ownership by Quarter for Lincoln National Corporation (NYSE:LNC)

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