Raymond James & Associates Has $7.45 Million Position in Lincoln National Co. (LNC)

Raymond James & Associates decreased its position in shares of Lincoln National Co. (NYSE:LNC) by 2.6% in the second quarter, Holdings Channel reports. The fund owned 119,607 shares of the financial services provider’s stock after selling 3,194 shares during the quarter. Raymond James & Associates’ holdings in Lincoln National were worth $7,446,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. BB&T Securities LLC lifted its position in Lincoln National by 113.6% during the second quarter. BB&T Securities LLC now owns 43,662 shares of the financial services provider’s stock valued at $2,717,000 after acquiring an additional 23,224 shares during the last quarter. AMP Capital Investors Ltd lifted its position in Lincoln National by 5.6% during the second quarter. AMP Capital Investors Ltd now owns 148,073 shares of the financial services provider’s stock valued at $9,216,000 after acquiring an additional 7,795 shares during the last quarter. Laurion Capital Management LP lifted its position in Lincoln National by 32.4% during the second quarter. Laurion Capital Management LP now owns 79,776 shares of the financial services provider’s stock valued at $4,966,000 after acquiring an additional 19,508 shares during the last quarter. OppenheimerFunds Inc. lifted its position in Lincoln National by 17.0% during the second quarter. OppenheimerFunds Inc. now owns 720,998 shares of the financial services provider’s stock valued at $44,883,000 after acquiring an additional 104,545 shares during the last quarter. Finally, Waters Parkerson & CO. LLC lifted its position in Lincoln National by 16.1% during the second quarter. Waters Parkerson & CO. LLC now owns 181,771 shares of the financial services provider’s stock valued at $11,315,000 after acquiring an additional 25,225 shares during the last quarter. 80.99% of the stock is owned by institutional investors.

LNC has been the topic of a number of recent analyst reports. Goldman Sachs Group upgraded shares of Lincoln National from a “sell” rating to a “neutral” rating and upped their price target for the company from $69.00 to $70.00 in a research note on Monday, September 10th. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 22nd. Credit Suisse Group cut their price target on shares of Lincoln National from $74.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. B. Riley upped their price target on shares of Lincoln National from $79.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Finally, Royal Bank of Canada restated a “buy” rating and set a $82.00 price target on shares of Lincoln National in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $80.77.

Shares of Lincoln National stock opened at $68.93 on Tuesday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.38. Lincoln National Co. has a 12-month low of $61.18 and a 12-month high of $86.68. The company has a market cap of $15.24 billion, a price-to-earnings ratio of 8.85 and a beta of 1.95.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.08). The company had revenue of $4.02 billion for 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 company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. research analysts forecast that Lincoln National Co. will post 8.33 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.91%. Lincoln National’s payout ratio is currently 16.94%.

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

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