Lincoln National Corporation (LNC) : Seminole Management has sold out all of its stake in Lincoln National Corporation during the most recent quarter, according to the disclosure filed by the company on Jul 26, 2016 with the SEC. The investment management company has sold out 447,201 shares of Lincoln National Corporation which is valued at $19,395,107.
Other Hedge Funds, Including , Candriam Luxembourg S.c.a. reduced its stake in LNC by selling 40,112 shares or 16.86% in the most recent quarter. The Hedge Fund company now holds 197,840 shares of LNC which is valued at $8,580,321. Lincoln National Corporation makes up approx 0.22% of Candriam Luxembourg S.c.a.’s portfolio.Oakbrook Investments boosted its stake in LNC in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 29,600 shares of Lincoln National Corporation which is valued at $1,286,120. Lincoln National Corporation makes up approx 0.07% of Oakbrook Investments’s portfolio.
Lincoln National Corporation closed down -0.04 points or -0.09% at $43.67 with 12,37,690 shares getting traded on Friday. Post opening the session at $43.37, the shares hit an intraday low of $43.21 and an intraday high of $43.86 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, Lincoln National Corporation reported $1.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.24 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $1.49. The company had revenue of $3243.00 million for the quarter, compared to analysts expectations of $3460.72 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.35 EPS.
Many Wall Street Analysts have commented on Lincoln National Corporation. Lincoln National Corporation was Downgraded by Goldman to ” Neutral” on Jul 15, 2016. Lincoln National Corporation was Downgraded by BofA/Merrill to ” Neutral” on Jun 29, 2016. Shares were Reiterated by Barclays on May 5, 2016 to “Overweight” and Lowered the Price Target to $ 49 from a previous price target of $51 .
Lincoln National Corporation is a holding company which operates multiple 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. These products include fixed and indexed annuities variable annuities universal life insurance variable universal life insurance linked-benefit UL term life insurance indexed universal life insurance employer-sponsored retirement plans and services and group life disability and dental. It operates in four segments: Annuities offers fixed (including indexed) and variable annuities. Retirement Plan Services provides employers with retirement plan products and services. Life Insurance focuses in the creation and protection of wealth through life insurance products. Group Protection offers principally group non-medical insurance products.