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.
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