Altus Wealth Group LLC Buys Shares of 9,860 Lincoln National Co. (NYSE:LNC)

Altus Wealth Group LLC purchased a new position in Lincoln National Co. (NYSE:LNC) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 9,860 shares of the financial services provider’s stock, valued at approximately $307,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Global Retirement Partners LLC grew its stake in Lincoln National by 32.6% in the first quarter. Global Retirement Partners LLC now owns 1,667 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 410 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Lincoln National by 1.6% in the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after buying an additional 420 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in shares of Lincoln National by 4.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 426 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 431 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Lincoln National by 1.0% during the second quarter. National Bank of Canada FI now owns 45,854 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 468 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Trading Down 0.8 %

Shares of LNC stock opened at $31.22 on Friday. The stock has a market capitalization of $5.31 billion, a P/E ratio of 4.27, a price-to-earnings-growth ratio of 0.33 and a beta of 1.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Co. has a fifty-two week low of $20.85 and a fifty-two week high of $36.46. The company has a 50 day moving average price of $31.45 and a 200 day moving average price of $30.21.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.77 by $0.07. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. During the same quarter in the previous year, the business posted $2.02 EPS. Equities research analysts predict that Lincoln National Co. will post 5.74 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.77%. Lincoln National’s payout ratio is currently 24.62%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley cut their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group lifted their price target on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays began coverage on shares of Lincoln National in a report on Wednesday. They set an “equal weight” rating and a $35.00 price objective on the stock. Bank of America reduced their price target on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Lincoln National currently has an average rating of “Hold” and a consensus target price of $32.64.

Lincoln National Company 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.