Affinity Investment Advisors LLC trimmed its position in Lincoln National Corporation (NYSE:LNC) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,891 shares of the financial services provider’s stock after selling 12,582 shares during the quarter. Lincoln National Corporation accounts for 1.5% of Affinity Investment Advisors LLC’s holdings, making the stock its 18th biggest holding. Affinity Investment Advisors LLC owned 0.08% of Lincoln National Corporation worth $13,365,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LNC. Janus Henderson Group PLC grew its holdings in Lincoln National Corporation by 3,936.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,196,540 shares of the financial services provider’s stock valued at $80,862,000 after buying an additional 1,166,893 shares in the last quarter. Janus Capital Management LLC grew its holdings in Lincoln National Corporation by 3,586.0% in the 1st quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock valued at $64,817,000 after buying an additional 963,456 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Lincoln National Corporation by 32.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after buying an additional 857,436 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Lincoln National Corporation by 207.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,269,347 shares of the financial services provider’s stock valued at $85,784,000 after buying an additional 855,930 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Lincoln National Corporation by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,649,087 shares of the financial services provider’s stock valued at $1,598,205,000 after buying an additional 764,714 shares in the last quarter. 80.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on LNC. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective on the stock in a report on Tuesday, July 11th. Barclays PLC upped their price objective on Lincoln National Corporation from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 11th. BidaskClub raised Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Lincoln National Corporation in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $76.50.
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Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.19. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same period in the previous year, the company posted $1.89 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Lincoln National Corporation’s previous quarterly dividend of $0.29. Lincoln National Corporation’s payout ratio is presently 17.79%.
Lincoln National Corporation 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.
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