First Trust Advisors LP cut its stake in Lincoln National Corporation (NYSE:LNC) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,054 shares of the financial services provider’s stock after selling 13,225 shares during the period. First Trust Advisors LP owned approximately 0.14% of Lincoln National Corporation worth $23,518,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Vermont acquired a new position in Lincoln National Corporation in the 2nd quarter valued at $101,000. Sun Life Financial INC raised its holdings in Lincoln National Corporation by 20,600.0% in the 2nd quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 1,648 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Lincoln National Corporation by 8.6% in the 2nd quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 136 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Lincoln National Corporation in the 2nd quarter valued at $200,000. Finally, Financial Architects Inc raised its holdings in Lincoln National Corporation by 2.3% in the 2nd quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 68 shares in the last quarter. 80.15% of the stock is owned by hedge funds and other institutional investors.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.19. Lincoln National Corporation had a return on equity of 11.38% and a net margin of 10.50%. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter last year, the business posted $1.89 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.33 per share. This is an increase from Lincoln National Corporation’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, January 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.72%. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 18.15%.
Several brokerages have weighed in on LNC. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Thursday, August 24th. Royal Bank Of Canada boosted 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. Morgan Stanley boosted their price target on Lincoln National Corporation from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Goldman Sachs Group, Inc. (The) began coverage on Lincoln National Corporation in a report on Wednesday, October 18th. They set a “sell” rating and a $71.00 price target for the company. Finally, BidaskClub cut Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Lincoln National Corporation currently has a consensus rating of “Hold” and a consensus price target of $76.70.
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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