Lincoln National Corporation $LNC Shares Acquired by Advisors Capital Management LLC

Advisors Capital Management LLC grew its stake in shares of Lincoln National Corporation (NYSE:LNC) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 550,493 shares of the financial services provider’s stock after purchasing an additional 8,901 shares during the period. Advisors Capital Management LLC owned about 0.29% of Lincoln National worth $19,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Lincoln National by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider’s stock worth $110,753,000 after buying an additional 208,114 shares during the period. Northern Trust Corp lifted its position in shares of Lincoln National by 6.1% in the 1st quarter. Northern Trust Corp now owns 2,566,274 shares of the financial services provider’s stock valued at $92,155,000 after acquiring an additional 146,667 shares in the last quarter. AQR Capital Management LLC boosted its stake in Lincoln National by 84.5% in the 1st quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider’s stock worth $72,039,000 after purchasing an additional 935,225 shares during the period. Invesco Ltd. grew its position in Lincoln National by 0.4% during the 1st quarter. Invesco Ltd. now owns 1,597,913 shares of the financial services provider’s stock worth $57,381,000 after purchasing an additional 5,936 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in Lincoln National during the 2nd quarter worth approximately $43,686,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LNC shares. Wolfe Research upgraded Lincoln National to a “strong sell” rating in a report on Tuesday, September 16th. National Bankshares set a $44.00 price objective on Lincoln National in a research note on Monday, November 3rd. Morgan Stanley lowered their target price on Lincoln National from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Cfra Research upgraded Lincoln National to a “hold” rating in a report on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Lincoln National from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.82.

Lincoln National Trading Down 1.7%

NYSE:LNC opened at $41.10 on Friday. The company has a market capitalization of $7.81 billion, a P/E ratio of 7.17, a P/E/G ratio of 0.50 and a beta of 1.49. The stock’s 50 day moving average price is $40.43 and its 200 day moving average price is $37.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $43.66.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, October 30th. The financial services provider reported $2.04 EPS for the quarter, topping the consensus estimate of $1.84 by $0.20. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the firm posted $2.06 earnings per share. On average, research analysts forecast that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. Lincoln National’s payout ratio is currently 16.16%.

Lincoln National Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.