Private Advisor Group LLC raised its holdings in shares of Lincoln National Co. (NYSE:LNC) by 279.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,693 shares of the financial services provider’s stock after acquiring an additional 23,331 shares during the quarter. Private Advisor Group LLC’s holdings in Lincoln National were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Lincoln National by 3.3% during 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. BlackRock Inc. lifted its stake in shares of Lincoln National by 1.9% during the 2nd quarter. BlackRock Inc. now owns 18,774,399 shares of the financial services provider’s stock valued at $1,268,774,000 after buying an additional 355,633 shares in the last quarter. FMR LLC lifted its stake in shares of Lincoln National by 1.3% during the 2nd quarter. FMR LLC now owns 7,470,115 shares of the financial services provider’s stock valued at $504,830,000 after buying an additional 95,605 shares in the last quarter. LSV Asset Management lifted its stake in shares of Lincoln National by 3.8% during the 2nd quarter. LSV Asset Management now owns 5,157,271 shares of the financial services provider’s stock valued at $348,528,000 after buying an additional 187,800 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Lincoln National by 32.0% during 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. Institutional investors and hedge funds own 80.44% of the company’s stock.
A number of research analysts recently weighed in on LNC shares. Zacks Investment Research upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Tuesday, August 8th. Barclays lifted their price target on shares of Lincoln National from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 11th. BidaskClub downgraded shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Citigroup reiterated a “buy” rating and issued a $83.00 price target (up from $82.00) on shares of Lincoln National in a report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $78.40.
Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.19. Lincoln National had a net margin of 10.50% and a return on equity of 11.16%. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The company’s revenue was down .4% compared to the same quarter last year. research analysts predict that Lincoln National Co. will post 7.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.29. Lincoln National’s dividend payout ratio is presently 18.15%.
Lincoln National 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.
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