Allspring Global Investments Holdings LLC Buys 51,823 Shares of Lincoln National Corporation (NYSE:LNC)

Allspring Global Investments Holdings LLC raised its stake in Lincoln National Corporation (NYSE:LNC - Free Report) by 34.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 204,010 shares of the financial services provider's stock after buying an additional 51,823 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.12% of Lincoln National worth $7,346,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. TCV Trust & Wealth Management Inc. bought a new stake in shares of Lincoln National in the first quarter worth $247,000. Sequoia Financial Advisors LLC bought a new stake in shares of Lincoln National in the first quarter worth $232,000. Daymark Wealth Partners LLC lifted its position in shares of Lincoln National by 1,370.7% in the first quarter. Daymark Wealth Partners LLC now owns 150,201 shares of the financial services provider's stock worth $5,394,000 after purchasing an additional 139,988 shares in the last quarter. Lecap Asset Management Ltd. lifted its position in shares of Lincoln National by 7.5% in the first quarter. Lecap Asset Management Ltd. now owns 29,589 shares of the financial services provider's stock worth $1,063,000 after purchasing an additional 2,059 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Lincoln National by 14.7% in the first quarter. International Assets Investment Management LLC now owns 48,356 shares of the financial services provider's stock worth $1,736,000 after purchasing an additional 6,199 shares in the last quarter. Institutional investors own 72.81% of the company's stock.

Analyst Ratings Changes

LNC has been the topic of several analyst reports. Wall Street Zen raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research report on Saturday. Keefe, Bruyette & Woods dropped their price target on shares of Lincoln National from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Barclays upped their price objective on shares of Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Wells Fargo & Company decreased their price objective on shares of Lincoln National from $36.00 to $31.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, Piper Sandler decreased their price objective on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $37.00.

Lincoln National Stock Performance

Shares of LNC stock traded down $0.20 on Friday, hitting $34.77. The company's stock had a trading volume of 1,306,497 shares, compared to its average volume of 1,663,001. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.25 and a current ratio of 0.25. The stock's 50 day moving average is $33.41 and its 200-day moving average is $33.82. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $39.85. The company has a market capitalization of $5.93 billion, a PE ratio of 4.94, a PEG ratio of 0.46 and a beta of 1.39.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.71 billion. Lincoln National had a net margin of 7.00% and a return on equity of 18.71%. The business's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. Equities research analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.18%. Lincoln National's payout ratio is 25.57%.

Insider Transactions at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 43,622 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $32.78, for a total transaction of $1,429,929.16. Following the sale, the executive vice president directly owned 154,102 shares in the company, valued at $5,051,463.56. This represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brian Kroll sold 10,075 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $33.10, for a total transaction of $333,482.50. Following the completion of the transaction, the executive vice president directly owned 48,743 shares of the company's stock, valued at $1,613,393.30. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company's stock.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.