Bank of New York Mellon Corp boosted its holdings in Lincoln National Corporation (NYSE:LNC) by 0.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,091,527 shares of the financial services provider’s stock after buying an additional 2,221 shares during the period. Bank of New York Mellon Corp owned 0.96% of Lincoln National Corporation worth $153,685,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of LNC. Sun Life Financial INC increased its stake 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 buying an additional 1,648 shares in the last quarter. D.A. Davidson & CO. increased its stake 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 buying an additional 136 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Lincoln National Corporation in the 2nd quarter worth $200,000. Financial Architects Inc increased its stake in Lincoln National Corporation by 2.3% in the 2nd quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock worth $201,000 after buying an additional 68 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. purchased a new stake in Lincoln National Corporation in the 2nd quarter worth $201,000. Institutional investors and hedge funds own 79.84% of the company’s stock.
Several research analysts have commented on the stock. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Thursday, August 24th. Wells Fargo & Company set a $80.00 price objective on shares of Lincoln National Corporation and gave the company a “hold” rating in a report on Thursday, November 16th. ValuEngine downgraded shares of Lincoln National Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Royal Bank Of Canada increased their price objective on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Morgan Stanley increased their price objective on shares of Lincoln National Corporation from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $77.00.
Lincoln National Corporation (LNC) opened at $74.18 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. Lincoln National Corporation has a 1-year low of $61.45 and a 1-year high of $77.46. The company has a market cap of $16,240.00, a PE ratio of 9.81, a P/E/G ratio of 1.12 and a beta of 2.03.
Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $2.03 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.19. Lincoln National Corporation had a net margin of 10.50% and a return on equity of 11.16%. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter last year, the firm earned $1.89 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. research analysts expect that Lincoln National Corporation will post 7.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a $0.33 dividend. This is a positive change from Lincoln National Corporation’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, January 9th. Lincoln National Corporation’s dividend payout ratio is 18.10%.
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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