Regent Investment Management LLC continued to hold its position in Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,300 shares of the financial services provider’s stock at the end of the second quarter. Regent Investment Management LLC’s holdings in Lincoln National Corporation were worth $561,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. New Century Investment Management Inc. bought a new position in Lincoln National Corporation during the fourth quarter valued at $1,352,000. UBS Asset Management Americas Inc. boosted its position in Lincoln National Corporation by 104.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,086,835 shares of the financial services provider’s stock valued at $204,564,000 after buying an additional 1,575,438 shares during the period. Acadian Asset Management LLC boosted its position in Lincoln National Corporation by 2,466.1% in the first quarter. Acadian Asset Management LLC now owns 413,417 shares of the financial services provider’s stock valued at $27,056,000 after buying an additional 397,306 shares during the period. American Century Companies Inc. acquired a new stake in shares of Lincoln National Corporation during the first quarter valued at approximately $6,437,000. Finally, Henderson Group PLC boosted its stake in shares of Lincoln National Corporation by 2.1% in the first quarter. Henderson Group PLC now owns 29,647 shares of the financial services provider’s stock valued at $1,940,000 after buying an additional 600 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.
Lincoln National Corporation (NYSE:LNC) traded up 0.64% during trading on Friday, hitting $72.81. 804,300 shares of the stock were exchanged. The firm has a market cap of $16.33 billion, a PE ratio of 11.94 and a beta of 1.98. Lincoln National Corporation has a 52 week low of $42.24 and a 52 week high of $73.31. The firm’s 50-day moving average is $69.21 and its 200 day moving average is $67.74.
Lincoln National Corporation (NYSE:LNC) last released its earnings results on Wednesday, May 3rd. The financial services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.30. Lincoln National Corporation had a net margin of 10.43% and a return on equity of 10.70%. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the business earned $1.25 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Lincoln National Corporation will post $7.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, July 6th. Lincoln National Corporation’s payout ratio is 19.14%.
Several analysts have commented on LNC shares. Bank of America Corporation upgraded shares of Lincoln National Corporation from a “neutral” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Thursday, April 6th. They noted that the move was a valuation call. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, May 4th. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Monday, June 5th. BidaskClub raised shares of Lincoln National Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Lincoln National Corporation currently has a consensus rating of “Buy” and a consensus price target of $72.60.
In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total transaction of $907,047.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael F. Mee sold 13,574 shares of Lincoln National Corporation stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $68.62, for a total transaction of $931,447.88. Following the sale, the director now owns 6,336 shares in the company, valued at approximately $434,776.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,693 shares of company stock worth $3,899,915. 1.41% of the stock is owned by company insiders.
About Lincoln National Corporation
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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