Baird Financial Group Inc. Buys 6,663 Shares of Lincoln National Co. (LNC)
Baird Financial Group Inc. boosted its stake in shares of Lincoln National Co. (NYSE:LNC) by 42.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 22,536 shares of the financial services provider’s stock after buying an additional 6,663 shares during the quarter. Baird Financial Group Inc.’s holdings in Lincoln National were worth $1,403,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC acquired a new position in Lincoln National during the 2nd quarter worth about $2,723,000. Rhumbline Advisers lifted its holdings in Lincoln National by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 417,529 shares of the financial services provider’s stock worth $25,991,000 after buying an additional 15,587 shares during the period. Premier Fund Managers Ltd lifted its holdings in Lincoln National by 5.3% during the 2nd quarter. Premier Fund Managers Ltd now owns 55,560 shares of the financial services provider’s stock worth $3,458,000 after buying an additional 2,786 shares during the period. State of Alaska Department of Revenue lifted its holdings in Lincoln National by 41.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 52,312 shares of the financial services provider’s stock worth $3,255,000 after buying an additional 15,335 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Lincoln National by 39.3% during the 2nd quarter. Arizona State Retirement System now owns 150,621 shares of the financial services provider’s stock worth $9,376,000 after buying an additional 42,493 shares during the period. 81.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Wednesday, July 4th. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 26th. Barclays dropped their price objective on Lincoln National from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. B. Riley dropped their price objective on Lincoln National from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Monday, July 16th. Finally, Morgan Stanley dropped their price objective on Lincoln National from $79.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $80.77.
Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.08). The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4 billion. Lincoln National had a net margin of 13.31% and a return on equity of 11.04%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 earnings per share. equities research analysts forecast that Lincoln National Co. will post 8.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Tuesday, October 9th. Lincoln National’s payout ratio is 16.94%.
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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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