Royal London Asset Management Ltd. lowered its holdings in shares of Lincoln National Co. (NYSE:LNC) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,992 shares of the financial services provider’s stock after selling 288 shares during the period. Royal London Asset Management Ltd.’s holdings in Lincoln National were worth $4,510,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Gemmer Asset Management LLC raised its stake in shares of Lincoln National by 89.7% in the 1st quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock worth $25,000 after buying an additional 200 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of Lincoln National in the 1st quarter worth $34,000. Cullen Frost Bankers Inc. bought a new stake in shares of Lincoln National in the 1st quarter worth $51,000. NuWave Investment Management LLC raised its stake in shares of Lincoln National by 149.8% in the 2nd quarter. NuWave Investment Management LLC now owns 1,124 shares of the financial services provider’s stock worth $72,000 after buying an additional 674 shares in the last quarter. Finally, Investors Research Corp bought a new stake in shares of Lincoln National in the 1st quarter worth $76,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE LNC opened at $51.90 on Thursday. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.30. The firm has a market cap of $10.76 billion, a PE ratio of 6.12, a price-to-earnings-growth ratio of 0.64 and a beta of 1.91. The stock has a fifty day moving average of $63.16. Lincoln National Co. has a 52-week low of $48.07 and a 52-week high of $71.27.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, October 9th. Lincoln National’s payout ratio is 17.45%.
A number of analysts have recently commented on LNC shares. Wells Fargo & Co reissued a “hold” rating and issued a $69.00 price objective on shares of Lincoln National in a research note on Wednesday, July 31st. JPMorgan Chase & Co. set a $92.00 price objective on Lincoln National and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Zacks Investment Research downgraded Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. UBS Group boosted their price objective on Lincoln National from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, ValuEngine downgraded Lincoln National from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.36.
In related news, EVP Lisa Buckingham sold 8,500 shares of Lincoln National stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.70, for a total value of $532,950.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christine A. Janofsky sold 7,928 shares of Lincoln National stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.62, for a total value of $496,451.36. The disclosure for this sale can be found here. Insiders sold a total of 28,166 shares of company stock worth $1,785,211 over the last 90 days. Insiders own 1.50% of the company’s stock.
Lincoln National 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 Annuities segment offers variable, fixed, and indexed variable annuities.
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