BlackRock Inc. Sells 21,949 Shares of Lincoln National Co. (NYSE:LNC)

BlackRock Inc. cut its holdings in shares of Lincoln National Co. (NYSE:LNC) by 0.1% during the second quarter, Holdings Channel.com reports. The fund owned 15,106,574 shares of the financial services provider’s stock after selling 21,949 shares during the period. BlackRock Inc. owned 0.08% of Lincoln National worth $949,298,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Loomis Sayles & Co. L P increased its holdings in shares of Lincoln National by 575.9% in the first quarter. Loomis Sayles & Co. L P now owns 588 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 501 shares during the last quarter. Stonebridge Capital Advisors LLC bought a new stake in shares of Lincoln National in the first quarter worth about $42,000. Van ECK Associates Corp increased its holdings in shares of Lincoln National by 188.0% in the second quarter. Van ECK Associates Corp now owns 697 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 455 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of Lincoln National in the second quarter worth about $88,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Lincoln National by 104.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 1,474 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 752 shares during the last quarter. 76.12% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada lifted their target price on Lincoln National from $69.00 to $70.00 and gave the stock a “sector perform” rating in a report on Friday, August 6th. Morgan Stanley lifted their target price on Lincoln National from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 5th. Zacks Investment Research raised Lincoln National from a “sell” rating to a “hold” rating and set a $65.00 target price on the stock in a report on Friday, July 9th. Wells Fargo & Company lifted their price target on Lincoln National from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday, August 9th. Finally, lifted their price target on Lincoln National from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, June 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Lincoln National currently has an average rating of “Hold” and an average price target of $66.71.

Shares of NYSE:LNC opened at $68.53 on Friday. Lincoln National Co. has a 1 year low of $29.66 and a 1 year high of $71.68. The business has a 50 day simple moving average of $65.67 and a two-hundred day simple moving average of $65.12. The firm has a market capitalization of $12.88 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 0.16 and a beta of 2.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.19 and a quick ratio of 0.19.

Lincoln National (NYSE:LNC) last announced its earnings results on Wednesday, August 4th. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.87. Lincoln National had a return on equity of 5.47% and a net margin of 7.43%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities research analysts expect that Lincoln National Co. will post 10.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Monday, October 11th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.45%. Lincoln National’s dividend payout ratio (DPR) is presently 37.75%.

About Lincoln National

Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. The company operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.

Further Reading: Forex

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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