Todd Asset Management Lowers stake in Lincoln National Corporation (LNC)

Lincoln National Corporation (LNC) : Todd Asset Management reduced its stake in Lincoln National Corporation by 7.3% during the most recent quarter end. The investment management company now holds a total of 672,320 shares of Lincoln National Corporation which is valued at $30,119,936 after selling 52,950 shares in Lincoln National Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Lincoln National Corporation makes up approximately 0.93% of Todd Asset Management’s portfolio.

Other Hedge Funds, Including , Agf Investments boosted its stake in LNC in the latest quarter, The investment management firm added 94,025 additional shares and now holds a total of 573,701 shares of Lincoln National Corporation which is valued at $25,701,805. Lincoln National Corporation makes up approx 0.28% of Agf Investments’s portfolio.Sanders Capital boosted its stake in LNC in the latest quarter, The investment management firm added 5,932 additional shares and now holds a total of 1,012,778 shares of Lincoln National Corporation which is valued at $44,228,015. Lincoln National Corporation makes up approx 0.35% of Sanders Capital’s portfolio.Partnerre Asset Management Corp reduced its stake in LNC by selling 100 shares or 5.95% in the most recent quarter. The Hedge Fund company now holds 1,582 shares of LNC which is valued at $68,374. Lincoln National Corporation makes up approx 0.03% of Partnerre Asset Management Corp’s portfolio.Deroy Devereaux Private Investment Counsel Inc boosted its stake in LNC in the latest quarter, The investment management firm added 6,000 additional shares and now holds a total of 40,450 shares of Lincoln National Corporation which is valued at $1,656,832. Lincoln National Corporation makes up approx 0.21% of Deroy Devereaux Private Investment Counsel Inc’s portfolio.

Lincoln National Corporation closed down -1.8 points or -4.02% at $43 with 30,31,259 shares getting traded on Thursday. Post opening the session at $44.21, the shares hit an intraday low of $42.75 and an intraday high of $44.35 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Lincoln National Corporation reported $1.56 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $1.56. The company had revenue of $3395.00 million for the quarter, compared to analysts expectations of $3449.20 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.46 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.

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