WealthTrust Fairport LLC lifted its holdings in Lincoln National Co. (NYSE:LNC) by 20.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,759 shares of the financial services provider’s stock after buying an additional 11,142 shares during the quarter. WealthTrust Fairport LLC’s holdings in Lincoln National were worth $4,905,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sun Life Financial INC raised its holdings in shares of Lincoln National by 20,600.0% in the second quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock worth $112,000 after buying an additional 1,648 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Lincoln National by 8.6% in the second quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock worth $116,000 after buying an additional 136 shares during the period. Valeo Financial Advisors LLC purchased a new stake in shares of Lincoln National in the third quarter worth approximately $171,000. Homrich & Berg purchased a new stake in shares of Lincoln National in the second quarter worth approximately $204,000. Finally, Institute for Wealth Management LLC. purchased a new position in Lincoln National during the 2nd quarter worth $227,000. Hedge funds and other institutional investors own 80.44% of the company’s stock.
Lincoln National Co. (LNC) traded down $1.72 during trading on Thursday, hitting $75.85. The stock had a trading volume of 1,210,600 shares, compared to its average volume of 1,472,983. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market cap of $16,974.60, a PE ratio of 10.25, a price-to-earnings-growth ratio of 1.16 and a beta of 2.01. Lincoln National Co. has a 52-week low of $61.45 and a 52-week high of $78.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.33 dividend. This is a boost from Lincoln National’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.74%. Lincoln National’s dividend payout ratio (DPR) is presently 18.15%.
LNC has been the topic of several research reports. Zacks Investment Research downgraded Lincoln National from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Citigroup restated a “buy” rating and set a $83.00 price objective (up from $82.00) on shares of Lincoln National in a report on Thursday, September 14th. Morgan Stanley raised their price objective on Lincoln National from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, Wells Fargo & Company set a $80.00 price objective on Lincoln National and gave the stock a “hold” rating in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $78.70.
Lincoln National 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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