Shufro Rose & Co. LLC lessened its stake in Lincoln National Co. (NYSE:LNC – Get Rating) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,180 shares of the financial services provider’s stock after selling 400 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Lincoln National were worth $665,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in Lincoln National in the fourth quarter worth approximately $28,000. Private Capital Group LLC boosted its holdings in shares of Lincoln National by 48.2% during the 1st quarter. Private Capital Group LLC now owns 483 shares of the financial services provider’s stock worth $32,000 after buying an additional 157 shares during the period. Hanson & Doremus Investment Management boosted its holdings in shares of Lincoln National by 735.6% during the 1st quarter. Hanson & Doremus Investment Management now owns 493 shares of the financial services provider’s stock worth $32,000 after buying an additional 434 shares during the period. Glassman Wealth Services boosted its holdings in shares of Lincoln National by 136.6% during the 4th quarter. Glassman Wealth Services now owns 504 shares of the financial services provider’s stock worth $34,000 after buying an additional 291 shares during the period. Finally, Confluence Wealth Services Inc. acquired a new position in Lincoln National during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 86.40% of the company’s stock.
Analyst Upgrades and Downgrades
LNC has been the subject of several research analyst reports. The Goldman Sachs Group cut their target price on shares of Lincoln National from $78.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Barclays cut their target price on shares of Lincoln National from $58.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 13th. JPMorgan Chase & Co. dropped their price objective on shares of Lincoln National from $83.00 to $77.00 in a research note on Monday, July 11th. Royal Bank of Canada dropped their price objective on shares of Lincoln National from $71.00 to $57.00 in a research note on Friday. Finally, Citigroup began coverage on shares of Lincoln National in a research note on Monday, May 23rd. They issued a “neutral” rating and a $56.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.
Lincoln National Stock Down 2.3 %
Lincoln National (NYSE:LNC – Get Rating) last issued its earnings results on Wednesday, May 4th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.31). The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.80 billion. Lincoln National had a net margin of 4.45% and a return on equity of 7.82%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business posted $1.82 EPS. As a group, research analysts forecast that Lincoln National Co. will post 8.71 EPS for the current fiscal year.
Lincoln National Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Friday, July 8th. Lincoln National’s dividend payout ratio (DPR) is presently 37.50%.
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 fixed, variable, and indexed variable annuities.
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