Victory Capital Management Inc. Buys 5,346 Shares of Lincoln National Co. (LNC)

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Victory Capital Management Inc. increased its stake in shares of Lincoln National Co. (NYSE:LNC) by 5.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 96,338 shares of the financial services provider’s stock after purchasing an additional 5,346 shares during the period. Victory Capital Management Inc.’s holdings in Lincoln National were worth $5,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Trust Advisors LP raised its holdings in shares of Lincoln National by 27.2% in the 2nd quarter. First Trust Advisors LP now owns 470,462 shares of the financial services provider’s stock valued at $29,286,000 after acquiring an additional 100,646 shares in the last quarter. Endurance Wealth Management Inc. raised its holdings in shares of Lincoln National by 100.0% during the 2nd quarter. Endurance Wealth Management Inc. now owns 4,000 shares of the financial services provider’s stock valued at $249,000 after buying an additional 2,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Lincoln National during the 2nd quarter valued at about $1,052,000. Assetmark Inc. raised its holdings in shares of Lincoln National by 4.6% during the 2nd quarter. Assetmark Inc. now owns 171,866 shares of the financial services provider’s stock valued at $10,699,000 after buying an additional 7,509 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of Lincoln National by 4.5% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 38,550 shares of the financial services provider’s stock valued at $2,400,000 after buying an additional 1,670 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

LNC opened at $66.54 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.19 and a current ratio of 0.19. Lincoln National Co. has a 1 year low of $61.18 and a 1 year high of $86.68. The company has a market cap of $14.14 billion, a P/E ratio of 8.15 and a beta of 1.92.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.08). Lincoln National had a return on equity of 11.04% and a net margin of 13.31%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the business earned $1.85 earnings per share. Lincoln National’s revenue was up 12.4% compared to the same quarter last year. research analysts forecast that Lincoln National Co. will post 8.33 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, October 9th. This represents a $1.32 annualized dividend and a yield of 1.98%. Lincoln National’s payout ratio is 16.94%.

A number of equities analysts recently weighed in on LNC shares. Credit Suisse Group started coverage on Lincoln National in a report on Wednesday, April 25th. They set a “neutral” rating and a $74.00 price objective on the stock. Wells Fargo & Co set a $76.00 price objective on Lincoln National and gave the company a “hold” rating in a report on Wednesday, May 2nd. Royal Bank of Canada decreased their price objective on Lincoln National to $84.00 and set an “outperform” rating on the stock in a report on Friday, May 4th. They noted that the move was a valuation call. Deutsche Bank decreased their price objective on Lincoln National from $96.00 to $87.00 and set a “buy” rating on the stock in a report on Friday, May 4th. Finally, Barclays started coverage on Lincoln National in a report on Friday, May 11th. They set an “overweight” rating and a $88.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $81.00.

About Lincoln National

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.

Read More: Stock Symbol

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

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