Steward Partners Investment Advisory LLC decreased its position in Lincoln National Co. (NYSE:LNC) by 21.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,514 shares of the financial services provider’s stock after selling 2,327 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Lincoln National were worth $576,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of LNC. IFM Investors Pty Ltd grew its position in shares of Lincoln National by 40.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 10,758 shares of the financial services provider’s stock worth $670,000 after acquiring an additional 3,089 shares in the last quarter. Hexavest Inc. acquired a new position in shares of Lincoln National in the 2nd quarter worth approximately $39,203,000. State of Alaska Department of Revenue grew its position in shares of Lincoln National by 41.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 52,312 shares of the financial services provider’s stock worth $3,255,000 after acquiring an additional 15,335 shares in the last quarter. Denali Advisors LLC grew its position in shares of Lincoln National by 17.4% in the 2nd quarter. Denali Advisors LLC now owns 204,700 shares of the financial services provider’s stock worth $12,743,000 after acquiring an additional 30,300 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. acquired a new position in shares of Lincoln National in the 2nd quarter worth approximately $370,000. Institutional investors own 80.99% of the company’s stock.
Shares of Lincoln National stock opened at $57.75 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 7.24 and a beta of 1.96. Lincoln National Co. has a 1-year low of $57.06 and a 1-year high of $86.68.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Tuesday, October 9th. Lincoln National’s dividend payout ratio is presently 16.94%.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Monday, October 8th. UBS Group lifted their target price on Lincoln National from $73.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, October 8th. B. Riley lifted their target price on Lincoln National from $79.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $82.00 target price on shares of Lincoln National in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $80.15.
Lincoln National Company Profile
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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