Caisse DE Depot ET Placement DU Quebec boosted its position in Lincoln National Corporation (NYSE:LNC) by 404.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,001 shares of the financial services provider’s stock after buying an additional 43,300 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Lincoln National Corporation were worth $3,538,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Advantage Investment Management LLC purchased a new position in Lincoln National Corporation during the fourth quarter worth approximately $120,000. SRS Capital Advisors Inc. increased its position in Lincoln National Corporation by 15.9% in the first quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock worth $135,000 after buying an additional 285 shares during the period. Americafirst Capital Management LLC purchased a new position in Lincoln National Corporation during the first quarter worth approximately $150,000. Financial Architects Inc increased its position in Lincoln National Corporation by 109.2% in the first quarter. Financial Architects Inc now owns 2,900 shares of the financial services provider’s stock worth $190,000 after buying an additional 1,514 shares during the period. Finally, Balentine LLC increased its position in Lincoln National Corporation by 120.4% in the first quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock worth $194,000 after buying an additional 1,620 shares during the period. Institutional investors and hedge funds own 80.14% of the company’s stock.
Lincoln National Corporation (NYSE LNC) traded down 0.06% during midday trading on Friday, hitting $65.51. The stock had a trading volume of 267,888 shares. The stock’s 50 day moving average price is $66.63 and its 200-day moving average price is $67.27. Lincoln National Corporation has a 52 week low of $35.27 and a 52 week high of $73.31. The company has a market cap of $14.69 billion, a PE ratio of 10.74 and a beta of 1.97.
Lincoln National Corporation (NYSE:LNC) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $3.54 billion. During the same period in the prior year, the business earned $1.25 earnings per share. Lincoln National Corporation’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Lincoln National Corporation will post $7.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, July 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.77%. Lincoln National Corporation’s payout ratio is 19.14%.
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A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, June 5th. BidaskClub upgraded Lincoln National Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $75.00 price target on shares of Lincoln National Corporation in a research note on Tuesday, March 21st. Finally, Bank of America Corporation upgraded Lincoln National Corporation from a “neutral” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Thursday, April 6th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Lincoln National Corporation presently has a consensus rating of “Hold” and an average price target of $67.75.
In related news, Director Michael F. Mee sold 13,574 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $68.62, for a total value of $931,447.88. Following the transaction, the director now directly owns 6,336 shares in the company, valued at $434,776.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Isaiah Tidwell sold 13,946 shares of the 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 disclosure for this sale can be found here. Insiders have sold 57,693 shares of company stock worth $3,899,915 over the last quarter. 1.41% of the stock is owned by company insiders.
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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