Rafferty Asset Management LLC cut its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 23.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,231 shares of the financial services provider’s stock after selling 10,095 shares during the quarter. Rafferty Asset Management LLC’s holdings in Lincoln National Corporation were worth $2,246,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of LNC. BlackRock Inc. raised its holdings in Lincoln National Corporation by 2,922.6% during the first quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock valued at $1,205,509,000 after acquiring an additional 17,809,394 shares during the period. Vanguard Group Inc. raised its holdings in Lincoln National Corporation by 5.6% during the first quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock valued at $1,497,782,000 after acquiring an additional 1,215,192 shares during the period. Teachers Advisors LLC raised its holdings in Lincoln National Corporation by 158.6% during the first quarter. Teachers Advisors LLC now owns 1,612,351 shares of the financial services provider’s stock valued at $105,528,000 after acquiring an additional 988,753 shares during the period. Janus Capital Management LLC raised its holdings in Lincoln National Corporation by 3,586.0% during the first quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock valued at $64,817,000 after acquiring an additional 963,456 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Lincoln National Corporation by 32.0% during the second quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after acquiring an additional 857,436 shares during the period. 79.85% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on LNC shares. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Monday, June 5th. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, June 8th. BidaskClub raised Lincoln National Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Finally, Bank of America Corporation set a $78.00 price target on Lincoln National Corporation in a report on Tuesday, July 4th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Lincoln National Corporation has a consensus rating of “Hold” and an average target price of $73.80.
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Lincoln National Corporation (NYSE:LNC) opened at 72.21 on Thursday. The stock’s 50 day moving average price is $69.75 and its 200-day moving average price is $67.84. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of 11.00 and a beta of 1.98. Lincoln National Corporation has a 12 month low of $44.74 and a 12 month high of $75.78.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts expect that Lincoln National Corporation will post $7.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, October 6th. This represents a $1.16 annualized dividend and a yield of 1.61%. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
Lincoln National Corporation Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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