Creative Planning grew its position in shares of Lincoln National Co. (NYSE:LNC – Free Report) by 41.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,445 shares of the financial services provider’s stock after purchasing an additional 13,395 shares during the period. Creative Planning’s holdings in Lincoln National were worth $1,171,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. bought a new stake in Lincoln National during the first quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Lincoln National by 368.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,102 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 867 shares during the last quarter. Sentry Investment Management LLC bought a new stake in shares of Lincoln National in the 1st quarter valued at about $25,000. Barrett & Company Inc. bought a new stake in shares of Lincoln National in the 1st quarter valued at about $27,000. Finally, IAG Wealth Partners LLC bought a new stake in shares of Lincoln National in the 1st quarter valued at about $28,000. Institutional investors own 71.89% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on LNC. Jefferies Financial Group boosted their target price on Lincoln National from $18.00 to $19.00 and gave the company an “underperform” rating in a research note on Thursday, September 14th. Piper Sandler lowered their target price on Lincoln National from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 2nd. Morgan Stanley boosted their price target on Lincoln National from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. StockNews.com began coverage on Lincoln National in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Barclays boosted their price target on Lincoln National from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.08.
Lincoln National Stock Down 2.4 %
LNC stock opened at $23.10 on Friday. Lincoln National Co. has a fifty-two week low of $18.50 and a fifty-two week high of $54.59. The business’s 50 day moving average price is $25.19 and its two-hundred day moving average price is $23.95. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -1.31 and a beta of 1.81.
Lincoln National (NYSE:LNC – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.10. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. Lincoln National had a negative return on equity of 22.54% and a negative net margin of 18.67%. During the same quarter in the prior year, the business posted $2.23 EPS. As a group, analysts forecast that Lincoln National Co. will post 7.17 earnings per share for the current fiscal year.
Lincoln National Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a $0.45 dividend. The ex-dividend date is Monday, October 9th. This represents a $1.80 annualized dividend and a yield of 7.79%. Lincoln National’s dividend payout ratio (DPR) is presently -10.23%.
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: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.
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