Victory Capital Management Inc. increased its position in shares of Lincoln National Co. (NYSE:LNC – Free Report) by 22.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,370 shares of the financial services provider’s stock after acquiring an additional 4,904 shares during the quarter. Victory Capital Management Inc.’s holdings in Lincoln National were worth $679,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sentry Investment Management LLC acquired a new position in shares of Lincoln National during the 1st quarter valued at about $25,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in Lincoln National by 368.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,102 shares of the financial services provider’s stock valued at $25,000 after buying an additional 867 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Lincoln National by 1,197.5% in the second quarter. Capital Advisors Ltd. LLC now owns 1,025 shares of the financial services provider’s stock valued at $26,000 after buying an additional 946 shares during the last quarter. Barrett & Company Inc. acquired a new position in Lincoln National in the first quarter valued at about $27,000. Finally, IAG Wealth Partners LLC acquired a new position in Lincoln National in the first quarter valued at about $28,000. Institutional investors and hedge funds own 71.89% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have commented on LNC. Morgan Stanley upped their target price on shares of Lincoln National from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Piper Sandler decreased their target price on shares of Lincoln National from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 2nd. Raymond James started coverage on shares of Lincoln National in a research report on Wednesday, July 26th. They set a “market perform” rating on the stock. Barclays increased their price target on shares of Lincoln National from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. Finally, Wells Fargo & Company reduced their price target on shares of Lincoln National from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Lincoln National has an average rating of “Hold” and an average target price of $29.92.
Lincoln National Stock Down 1.5 %
LNC stock opened at $21.44 on Thursday. The company’s 50 day moving average price is $24.17 and its 200 day moving average price is $24.07. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.20 and a current ratio of 0.20. Lincoln National Co. has a fifty-two week low of $18.50 and a fifty-two week high of $54.20. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -1.22 and a beta of 1.81.
Lincoln National (NYSE:LNC – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.92 by $0.10. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a negative net margin of 18.67% and a negative return on equity of 22.54%. During the same period in the prior year, the firm posted $2.23 earnings per share. On average, equities research analysts anticipate that Lincoln National Co. will post 7.09 EPS for the current fiscal year.
Lincoln National Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, October 9th. This represents a $1.80 annualized dividend and a yield of 8.40%. Lincoln National’s dividend payout ratio is currently -10.23%.
About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.
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