Strategic Global Advisors LLC Purchases Shares of 3,324 Lincoln National Co. (NYSE:LNC)
Strategic Global Advisors LLC acquired a new position in shares of Lincoln National Co. (NYSE:LNC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,324 shares of the financial services provider’s stock, valued at approximately $214,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in shares of Lincoln National by 2.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 80,632 shares of the financial services provider’s stock valued at $4,733,000 after purchasing an additional 2,143 shares during the period. Truvestments Capital LLC lifted its stake in Lincoln National by 42.7% during the second quarter. Truvestments Capital LLC now owns 13,271 shares of the financial services provider’s stock valued at $855,000 after buying an additional 3,971 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Lincoln National in the second quarter worth about $39,000. DNB Asset Management AS boosted its holdings in shares of Lincoln National by 44.9% in the second quarter. DNB Asset Management AS now owns 94,253 shares of the financial services provider’s stock worth $6,075,000 after buying an additional 29,224 shares during the period. Finally, Diversified Trust Co increased its position in shares of Lincoln National by 4.9% in the second quarter. Diversified Trust Co now owns 13,487 shares of the financial services provider’s stock worth $869,000 after acquiring an additional 631 shares in the last quarter. 81.42% of the stock is owned by institutional investors and hedge funds.
NYSE:LNC traded up $0.31 on Wednesday, hitting $59.89. 154,724 shares of the company’s stock traded hands, compared to its average volume of 1,405,148. The company has a market cap of $11.86 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 0.69 and a beta of 1.97. Lincoln National Co. has a 1 year low of $48.07 and a 1 year high of $71.27. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $56.73 and a 200-day moving average price of $61.82.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.48 dividend on an annualized basis and a yield of 2.47%. Lincoln National’s payout ratio is 17.45%.
LNC has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Lincoln National from $76.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. Goldman Sachs Group raised shares of Lincoln National from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $77.00 in a research note on Tuesday, June 25th. ValuEngine cut shares of Lincoln National from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Wells Fargo & Co reissued a “hold” rating and set a $69.00 target price on shares of Lincoln National in a research note on Wednesday, July 31st. Finally, Barclays set a $69.00 target price on shares of Lincoln National and gave the company a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $75.10.
In other Lincoln National news, CAO Christine A. Janofsky sold 7,928 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.62, for a total value of $496,451.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Buckingham sold 8,500 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.70, for a total value of $532,950.00. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
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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