Lincoln National Co. (LNC) Position Reduced by Russell Investments Group Ltd.

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Russell Investments Group Ltd. decreased its position in shares of Lincoln National Co. (NYSE:LNC) by 24.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 254,040 shares of the financial services provider’s stock after selling 84,449 shares during the quarter. Russell Investments Group Ltd.’s holdings in Lincoln National were worth $15,814,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Atlantic Trust Group LLC increased its holdings in shares of Lincoln National by 6.3% in the first quarter. Atlantic Trust Group LLC now owns 12,251 shares of the financial services provider’s stock valued at $895,000 after buying an additional 724 shares in the last quarter. Bartlett & Co. LLC increased its holdings in shares of Lincoln National by 6.3% in the second quarter. Bartlett & Co. LLC now owns 12,393 shares of the financial services provider’s stock valued at $771,000 after buying an additional 737 shares in the last quarter. Freestone Capital Holdings LLC increased its holdings in shares of Lincoln National by 2.4% in the first quarter. Freestone Capital Holdings LLC now owns 31,925 shares of the financial services provider’s stock valued at $2,332,000 after buying an additional 746 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Lincoln National by 25.0% in the first quarter. Signaturefd LLC now owns 3,858 shares of the financial services provider’s stock valued at $282,000 after buying an additional 771 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of Lincoln National by 19.2% in the second quarter. Sigma Planning Corp now owns 4,882 shares of the financial services provider’s stock valued at $304,000 after buying an additional 788 shares in the last quarter. 81.07% of the stock is currently owned by hedge funds and other institutional investors.

NYSE LNC opened at $65.81 on Friday. Lincoln National Co. has a twelve month low of $61.18 and a twelve month high of $86.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 8.45 and a beta of 1.92.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $2.02 earnings per share 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 firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm posted $1.85 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. equities analysts expect that Lincoln National Co. will post 8.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, October 9th. Lincoln National’s payout ratio is 16.94%.

Several research analysts have issued reports on LNC shares. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Tuesday, July 24th. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 22nd. Deutsche Bank dropped their price target on Lincoln National from $96.00 to $87.00 and set a “buy” rating on the stock in a report on Friday, May 4th. B. Riley upped their price target on Lincoln National from $79.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Finally, Credit Suisse Group dropped their price target on Lincoln National from $74.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average 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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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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