Baird Financial Group Inc. boosted its stake in shares of Lincoln National Co. (NYSE:LNC) by 42.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,536 shares of the financial services provider’s stock after acquiring an additional 6,663 shares during the period. Baird Financial Group Inc.’s holdings in Lincoln National were worth $1,403,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its stake in Lincoln National by 3.2% during the 2nd quarter. BlackRock Inc. now owns 19,580,560 shares of the financial services provider’s stock worth $1,218,887,000 after acquiring an additional 610,043 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Lincoln National by 90.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,848,793 shares of the financial services provider’s stock valued at $427,315,000 after purchasing an additional 2,779,947 shares during the last quarter. LSV Asset Management increased its stake in shares of Lincoln National by 2.4% in the 2nd quarter. LSV Asset Management now owns 5,655,749 shares of the financial services provider’s stock valued at $352,070,000 after purchasing an additional 131,883 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Lincoln National by 14.9% in the 1st quarter. Wells Fargo & Company MN now owns 1,484,669 shares of the financial services provider’s stock valued at $108,470,000 after purchasing an additional 192,446 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in shares of Lincoln National by 10.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,344,231 shares of the financial services provider’s stock valued at $98,209,000 after purchasing an additional 130,674 shares during the last quarter. Hedge funds and other institutional investors own 81.06% of the company’s stock.
Several equities analysts have recently issued reports on LNC shares. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Tuesday, July 24th. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 22nd. Goldman Sachs Group upgraded Lincoln National from a “sell” rating to a “neutral” rating and lifted their price target for the company from $69.00 to $70.00 in a research note on Monday, September 10th. B. Riley lifted their price target on Lincoln National from $79.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Finally, Credit Suisse Group decreased their price target on Lincoln National from $74.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $80.77.
Shares of LNC stock opened at $66.47 on Tuesday. The firm has a market cap of $13.91 billion, a P/E ratio of 8.66 and a beta of 1.94. 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.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.08). The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4 billion. Lincoln National had a return on equity of 11.04% and a net margin of 13.31%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. equities research analysts expect that Lincoln National Co. will post 8.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, October 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.99%. Lincoln National’s dividend payout ratio is currently 16.94%.
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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