Glassman Wealth Services boosted its stake in Lincoln National Co. (NYSE:LNC) by 3,589.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,033 shares of the financial services provider’s stock after buying an additional 1,005 shares during the period. Glassman Wealth Services’ holdings in Lincoln National were worth $67,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in Lincoln National by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,216,834 shares of the financial services provider’s stock worth $113,748,000 after acquiring an additional 57,696 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lincoln National by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,898,554 shares of the financial services provider’s stock worth $148,472,000 after acquiring an additional 197,294 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Lincoln National in the 1st quarter worth about $564,000. Oppenheimer & Co. Inc. lifted its stake in Lincoln National by 27.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 22,893 shares of the financial services provider’s stock worth $1,344,000 after acquiring an additional 4,973 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in Lincoln National by 14.6% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 93,880 shares of the financial services provider’s stock worth $5,511,000 after acquiring an additional 11,940 shares in the last quarter. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on LNC shares. Wells Fargo & Co reissued a “hold” rating and issued a $69.00 price objective on shares of Lincoln National in a research note on Wednesday, July 31st. Goldman Sachs Group raised Lincoln National from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $77.00 in a research note on Tuesday, June 25th. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. ValuEngine lowered Lincoln National from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, Barclays set a $69.00 price objective on Lincoln National and gave the company a “buy” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $75.10.
LNC traded up $0.96 during trading on Friday, hitting $61.28. The company’s stock had a trading volume of 5,017 shares, compared to its average volume of 1,401,233. Lincoln National Co. has a 12 month low of $48.07 and a 12 month high of $71.27. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 0.71 and a beta of 1.97. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average price is $56.62 and its two-hundred day moving average price is $61.81.
Lincoln National (NYSE:LNC) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.04. Lincoln National had a return on equity of 11.85% and a net margin of 8.74%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the business earned $2.02 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that Lincoln National Co. will post 9.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, October 9th. This represents a $1.48 dividend on an annualized basis and a yield of 2.42%. Lincoln National’s dividend payout ratio (DPR) is 17.45%.
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 Annuities segment offers variable, fixed, and indexed variable annuities.
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