Shufro Rose & Co. LLC cut its stake in Lincoln National Co. (NYSE:LNC) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,030 shares of the financial services provider’s stock after selling 800 shares during the period. Shufro Rose & Co. LLC’s holdings in Lincoln National were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Gemmer Asset Management LLC raised its stake in shares of Lincoln National by 89.7% during the first quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock worth $25,000 after buying an additional 200 shares during the last quarter. NuWave Investment Management LLC raised its stake in shares of Lincoln National by 603.1% during the first quarter. NuWave Investment Management LLC now owns 450 shares of the financial services provider’s stock worth $26,000 after buying an additional 386 shares during the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of Lincoln National during the first quarter worth approximately $34,000. Cullen Frost Bankers Inc. bought a new stake in shares of Lincoln National during the first quarter worth approximately $51,000. Finally, Cerebellum GP LLC bought a new stake in shares of Lincoln National during the second quarter worth approximately $82,000. 80.55% of the stock is owned by institutional investors and hedge funds.
LNC has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. ValuEngine downgraded shares of Lincoln National from a “sell” rating to a “strong sell” rating in a research note on Thursday. JPMorgan Chase & Co. set a $92.00 price target on shares of Lincoln National and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Goldman Sachs Group upgraded shares of Lincoln National from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $77.00 in a report on Tuesday, June 25th. Finally, Wells Fargo & Co restated a “hold” rating and set a $69.00 price objective on shares of Lincoln National in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Lincoln National has an average rating of “Hold” and an average price target of $75.64.
In other news, CAO Christine A. Janofsky sold 7,928 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.62, for a total value of $496,451.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Buckingham sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.70, for a total transaction of $532,950.00. The disclosure for this sale can be found here. Insiders sold 28,166 shares of company stock valued at $1,785,211 in the last quarter. Corporate insiders own 1.50% of the company’s stock.
NYSE LNC traded down $1.16 during trading on Friday, reaching $58.66. 2,093,707 shares of the stock traded hands, compared to its average volume of 1,256,399. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 0.72 and a beta of 1.91. The firm’s 50-day moving average is $64.85. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 0.30. Lincoln National Co. has a fifty-two week low of $48.07 and a fifty-two week high of $71.27.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.32 by $0.04. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Lincoln National had a net margin of 8.74% and a return on equity of 11.85%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.02 earnings per share. As a group, equities analysts anticipate that Lincoln National Co. will post 9.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Tuesday, July 9th. Lincoln National’s dividend payout ratio is currently 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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