Fmr LLC lifted its stake in Lincoln National Co. (NYSE:LNC) by 0.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,696,003 shares of the financial services provider’s stock after purchasing an additional 2,252 shares during the quarter. Fmr LLC owned about 2.63% of Lincoln National worth $354,576,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in LNC. Point72 Asia Hong Kong Ltd purchased a new position in shares of Lincoln National in the 1st quarter worth approximately $111,000. CX Institutional purchased a new position in shares of Lincoln National in the 2nd quarter worth approximately $117,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Lincoln National in the 2nd quarter worth approximately $128,000. Picton Mahoney Asset Management purchased a new position in shares of Lincoln National in the 1st quarter worth approximately $146,000. Finally, Whittier Trust Co. boosted its holdings in shares of Lincoln National by 38.7% in the 2nd quarter. Whittier Trust Co. now owns 3,288 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 917 shares during the period. Hedge funds and other institutional investors own 81.06% of the company’s stock.
LNC opened at $66.62 on Thursday. Lincoln National Co. has a 52-week low of $61.18 and a 52-week high of $86.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a market cap of $14.21 billion, a P/E ratio of 8.54 and a beta of 1.95.
Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm earned $1.85 EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Tuesday, October 9th. Lincoln National’s payout ratio is currently 16.94%.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Wednesday, July 4th. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a report on Thursday, July 26th. Barclays dropped their target price on Lincoln National from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, July 9th. B. Riley dropped their target price on Lincoln National from $88.00 to $79.00 and set a “neutral” rating for the company in a report on Monday, July 16th. Finally, Morgan Stanley dropped their target price 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average 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: Outstanding Shares
Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.