Investec Asset Management LTD decreased its position in Lincoln National Corporation (NYSE:LNC) by 2.7% during the first quarter, Holdings Channel reports. The institutional investor owned 736,708 shares of the financial services provider’s stock after selling 20,626 shares during the period. Investec Asset Management LTD owned 0.33% of Lincoln National Corporation worth $48,218,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Lincoln National Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 3,965 shares of the financial services provider’s stock worth $255,000 after buying an additional 11 shares in the last quarter. Stratford Consulting LLC raised its position in shares of Lincoln National Corporation by 0.4% in the first quarter. Stratford Consulting LLC now owns 6,405 shares of the financial services provider’s stock worth $419,000 after buying an additional 27 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of Lincoln National Corporation by 0.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 9,075 shares of the financial services provider’s stock worth $601,000 after buying an additional 32 shares in the last quarter. Savant Capital LLC raised its position in shares of Lincoln National Corporation by 0.5% in the first quarter. Savant Capital LLC now owns 6,817 shares of the financial services provider’s stock worth $446,000 after buying an additional 37 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its position in shares of Lincoln National Corporation by 1.3% in the first quarter. Tocqueville Asset Management L.P. now owns 4,842 shares of the financial services provider’s stock worth $317,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 80.19% of the company’s stock.

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

Lincoln National Corporation (NYSE:LNC) traded up 0.01% on Friday, hitting $68.04. 1,466,720 shares of the stock were exchanged. The stock’s 50 day moving average price is $66.50 and its 200 day moving average price is $67.18. The firm has a market cap of $15.26 billion, a PE ratio of 11.16 and a beta of 1.97. Lincoln National Corporation has a 52-week low of $35.27 and a 52-week high of $73.31.

Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.30. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.54 billion. Lincoln National Corporation had a net margin of 10.43% and a return on equity of 10.70%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. Equities research analysts forecast that Lincoln National Corporation will post $7.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, July 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.70%. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 19.14%.

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A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Monday, June 5th. BidaskClub raised shares of Lincoln National Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $75.00 price target on shares of Lincoln National Corporation in a research note on Tuesday, March 21st. Finally, Bank of America Corporation raised shares of Lincoln National Corporation from a “neutral” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Thursday, April 6th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.75.

In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $65.04, for a total transaction of $907,047.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael F. Mee sold 30,173 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $68.32, for a total transaction of $2,061,419.36. Following the sale, the director now owns 6,336 shares in the company, valued at $432,875.52. The disclosure for this sale can be found here. Insiders have sold 57,693 shares of company stock worth $3,899,915 over the last quarter. Insiders own 1.41% of the company’s stock.

About Lincoln National Corporation

Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.

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