Mark Sheptoff Financial Planning LLC bought a new position in shares of Lincoln National Co. (NYSE:LNC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,050 shares of the financial services provider’s stock, valued at approximately $128,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Hong Kong Ltd purchased a new position in shares of Lincoln National during the first quarter worth approximately $111,000. CX Institutional purchased a new position in shares of Lincoln National during the second quarter worth approximately $117,000. Picton Mahoney Asset Management purchased a new position in shares of Lincoln National during the first quarter worth approximately $146,000. Mariner LLC purchased a new position in shares of Lincoln National during the first quarter worth approximately $212,000. Finally, NEXT Financial Group Inc purchased a new position in shares of Lincoln National during the first quarter worth approximately $212,000. Institutional investors and hedge funds own 79.82% of the company’s stock.
Shares of NYSE LNC opened at $65.47 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.19 and a quick ratio of 0.19. Lincoln National Co. has a 1-year low of $61.18 and a 1-year high of $86.68. The firm has a market cap of $14.14 billion, a P/E ratio of 8.40 and a beta of 1.92.
Lincoln National (NYSE:LNC) last released its earnings results on Wednesday, August 1st. The financial services provider reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.08). Lincoln National had a net margin of 13.31% and a return on equity of 11.04%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4 billion. During the same period last year, the business posted $1.85 EPS. Lincoln National’s revenue was up 12.4% compared to the same quarter last year. sell-side analysts predict that Lincoln National Co. will post 8.33 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Tuesday, October 9th. Lincoln National’s dividend payout ratio (DPR) is currently 16.94%.
Several equities research analysts recently weighed in on LNC shares. Credit Suisse Group decreased their price target on Lincoln National from $74.00 to $68.00 and set a “neutral” rating for the company in a report on Friday. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Tuesday, July 24th. ValuEngine downgraded Lincoln National from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Deutsche Bank decreased their price target on Lincoln National from $87.00 to $82.00 and set a “buy” rating for the company in a report on Monday, May 21st. Finally, Morgan Stanley decreased their price target on Lincoln National from $79.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $81.00.
Lincoln National Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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