State of Wisconsin Investment Board lifted its holdings in shares of Lincoln National Co. (NYSE:LNC) by 5.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 294,094 shares of the financial services provider’s stock after buying an additional 16,003 shares during the period. State of Wisconsin Investment Board owned about 0.13% of Lincoln National worth $18,307,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of LNC. JPMorgan Chase & Co. raised its holdings in shares of Lincoln National by 90.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,848,793 shares of the financial services provider’s stock worth $427,315,000 after buying an additional 2,779,947 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Lincoln National by 1,033.3% during the 1st quarter. Schroder Investment Management Group now owns 810,566 shares of the financial services provider’s stock worth $59,220,000 after buying an additional 739,043 shares in the last quarter. Hexavest Inc. acquired a new position in shares of Lincoln National during the 2nd quarter worth $39,203,000. Bloom Tree Partners LLC acquired a new position in shares of Lincoln National during the 1st quarter worth $31,855,000. Finally, Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Lincoln National during the 2nd quarter worth $17,817,000. 80.63% of the stock is owned by institutional investors.
A number of research firms have recently commented on LNC. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a report on Thursday, July 26th. B. Riley upped their target price on Lincoln National from $79.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a report on Monday, July 30th. Barclays lowered their target price on Lincoln National from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, July 9th. Finally, Morgan Stanley lowered their target price on Lincoln National from $79.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $81.43.
Lincoln National (NYSE:LNC) last issued its earnings results on Wednesday, August 1st. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.08). Lincoln National had a return on equity of 11.04% and a net margin of 13.31%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company earned $1.85 EPS. Lincoln National’s revenue for the quarter was up 12.4% on a year-over-year basis. research analysts forecast that Lincoln National Co. will post 8.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.02%. Lincoln National’s dividend payout ratio (DPR) is presently 16.94%.
About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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