Pacer Advisors Inc. raised its stake in Lincoln National Co. (NYSE:LNC) by 13.5% in the second quarter, HoldingsChannel reports. The fund owned 20,155 shares of the financial services provider’s stock after purchasing an additional 2,392 shares during the period. Pacer Advisors Inc.’s holdings in Lincoln National were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Rational Advisors LLC lifted its holdings in Lincoln National by 225.0% in the second quarter. Rational Advisors LLC now owns 442 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 306 shares during the period. Meeder Asset Management Inc. acquired a new position in Lincoln National in the second quarter valued at approximately $39,000. Glassman Wealth Services lifted its holdings in Lincoln National by 3,589.3% in the second quarter. Glassman Wealth Services now owns 1,033 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 1,005 shares during the period. NuWave Investment Management LLC lifted its holdings in Lincoln National by 149.8% in the second quarter. NuWave Investment Management LLC now owns 1,124 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 674 shares during the period. Finally, Cerebellum GP LLC acquired a new position in Lincoln National in the second quarter valued at approximately $82,000. 81.42% of the stock is owned by institutional investors.
A number of research analysts have issued reports on the company. ValuEngine downgraded Lincoln National from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Citigroup cut their price objective on Lincoln National from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Friday. Barclays set a $69.00 price objective on Lincoln National and gave the company a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Wells Fargo & Co restated a “hold” rating and issued a $69.00 price objective on shares of Lincoln National in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $74.64.
Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.36 EPS for the quarter, beating the Zacks’ consensus estimate of $2.32 by $0.04. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Lincoln National had a return on equity of 11.85% and a net margin of 8.74%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.02 earnings per share. Sell-side analysts forecast that Lincoln National Co. will post 9.3 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Wednesday, October 9th. Lincoln National’s dividend payout ratio (DPR) is presently 17.45%.
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 Annuities segment offers variable, fixed, and indexed variable annuities.
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