Westpac Banking Corp cut its stake in shares of Lincoln National Corporation (NYSE:LNC) by 86.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,046 shares of the financial services provider’s stock after selling 89,729 shares during the quarter. Westpac Banking Corp’s holdings in Lincoln National Corporation were worth $949,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of LNC. Trust Co. of Vermont acquired a new position in shares of Lincoln National Corporation during the 2nd quarter worth $101,000. SRS Capital Advisors Inc. grew its stake in shares of Lincoln National Corporation by 15.9% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 285 shares during the period. Balentine LLC grew its stake in shares of Lincoln National Corporation by 120.4% during the 1st quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 1,620 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Lincoln National Corporation during the 2nd quarter worth $200,000. Finally, Financial Architects Inc grew its stake in shares of Lincoln National Corporation by 2.3% during the 2nd quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 68 shares during the period. 79.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lincoln National Corporation (LNC) opened at 65.80 on Monday. The company has a 50-day moving average of $70.27 and a 200-day moving average of $67.98. The firm has a market capitalization of $14.57 billion, a PE ratio of 10.02 and a beta of 1.98. Lincoln National Corporation has a 52 week low of $44.74 and a 52 week high of $75.78.
Lincoln National Corporation (NYSE:LNC) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. Lincoln National Corporation’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.56 earnings per share. On average, equities analysts forecast that Lincoln National Corporation will post $7.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.29 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.76%. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
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A number of equities analysts have recently weighed in on LNC shares. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Monday, June 5th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. BidaskClub raised shares of Lincoln National Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Finally, Bank of America Corporation set a $78.00 price target on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Lincoln National Corporation presently has an average rating of “Hold” and a consensus price target of $73.50.
Lincoln National Corporation Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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