Raymond James Financial Services Advisors Inc. grew its stake in Lincoln National Corporation (NYSE:LNC) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,298 shares of the financial services provider’s stock after purchasing an additional 2,347 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Lincoln National Corporation were worth $4,075,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new stake in Lincoln National Corporation in the 2nd quarter worth approximately $101,000. Sun Life Financial INC boosted its position in Lincoln National Corporation by 20,600.0% in the 2nd quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 1,648 shares in the last quarter. D.A. Davidson & CO. boosted its position in Lincoln National Corporation by 8.6% in the 2nd quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 136 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Lincoln National Corporation by 15.9% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 285 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in Lincoln National Corporation in the 2nd quarter worth approximately $200,000. Institutional investors and hedge funds own 79.85% of the company’s stock.
Several equities research analysts have commented on LNC shares. Keefe, Bruyette & Woods restated a “hold” rating on shares of Lincoln National Corporation in a research report on Monday, June 26th. Bank of America Corporation set a $78.00 target price on Lincoln National Corporation in a research report on Tuesday, July 4th. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a research report on Tuesday, July 11th. BidaskClub lowered Lincoln National Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a research report on Wednesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $77.11.
Shares of Lincoln National Corporation (NYSE LNC) traded up 0.03% during mid-day trading on Friday, hitting $74.87. The company’s stock had a trading volume of 1,013,550 shares. The company has a market cap of $16.58 billion, a PE ratio of 11.41 and a beta of 1.99. The stock has a 50-day moving average of $71.15 and a 200-day moving average of $68.69. Lincoln National Corporation has a 12-month low of $47.71 and a 12-month high of $76.10.
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 Zacks’ consensus estimate of $1.73 by $0.12. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Lincoln National Corporation will post $7.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.55%. Lincoln National Corporation’s dividend payout ratio (DPR) is 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.