Pitcairn Co. Invests $258,000 in Lincoln National Co. (NYSE:LNC)

Pitcairn Co. acquired a new position in shares of Lincoln National Co. (NYSE:LNC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,011 shares of the financial services provider’s stock, valued at approximately $258,000.

Other large investors have also added to or reduced their stakes in the company. WASHINGTON TRUST Co bought a new position in shares of Lincoln National during the 1st quarter worth about $26,000. Key Financial Inc bought a new position in shares of Lincoln National during the 1st quarter worth about $27,000. Lindbrook Capital LLC lifted its holdings in shares of Lincoln National by 187.1% during the 2nd quarter. Lindbrook Capital LLC now owns 735 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 479 shares during the period. Asset Advisors Investment Management LLC bought a new position in shares of Lincoln National during the 2nd quarter worth about $37,000. Finally, Ellevest Inc. lifted its holdings in shares of Lincoln National by 29.2% during the 1st quarter. Ellevest Inc. now owns 1,498 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 339 shares during the period. 78.31% of the stock is owned by institutional investors.

In other Lincoln National news, Director M Leanne Lachman purchased 3,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $35.59 per share, for a total transaction of $106,770.00. 1.50% of the stock is owned by insiders.

LNC opened at $37.27 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $7.20 billion, a PE ratio of 4.04 and a beta of 2.28. Lincoln National Co. has a 1-year low of $16.11 and a 1-year high of $66.44. The firm has a 50-day moving average price of $37.08 and a two-hundred day moving average price of $40.01.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.07. The firm had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.53 billion. Lincoln National had a net margin of 3.72% and a return on equity of 10.01%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.14 EPS. On average, research analysts predict that Lincoln National Co. will post 8.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, August 1st. Stockholders of record on Friday, July 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Thursday, July 9th. Lincoln National’s dividend payout ratio is 18.39%.

Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Lincoln National from a “hold” rating to a “sell” rating and set a $43.00 price target for the company. in a report on Thursday, May 28th. Wells Fargo & Co reissued a “hold” rating on shares of Lincoln National in a report on Tuesday, July 7th. Morgan Stanley lifted their price target on shares of Lincoln National from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, July 6th. B. Riley lifted their price target on shares of Lincoln National from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Finally, Citigroup downgraded shares of Lincoln National from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $30.00 in a report on Friday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Lincoln National has an average rating of “Hold” and a consensus price target of $42.45.

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 Annuities segment offers variable, fixed, and indexed variable annuities.

Featured Article: What is Compound Annual Growth Rate (CAGR)?

Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Co. (NYSE:LNC).

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

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.