Amundi Has $1.48 Million Position in Lincoln National Corporation $LNC

Key Points

• Amundi cut its Lincoln National stake by 90.2% in the first quarter, selling 383,929 shares and retaining 41,545 shares valued at approximately $1.48 million. Institutional investors collectively own 72.81% of the company.
• Lincoln National reported quarterly earnings of $2.24 per share, beating estimates of $1.96, while revenue rose 12.3% year over year to $4.93 billion.
• Analysts have a consensus “Hold” rating and a $46.43 price target; the company also maintains a quarterly dividend of $0.45 per share, representing a 3.9% yield.

Amundi reduced its stake in Lincoln National Corporation (NYSE:LNC - Free Report) by 90.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,545 shares of the financial services provider's stock after selling 383,929 shares during the period. Amundi's holdings in Lincoln National were worth $1,475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JPL Wealth Management LLC bought a new stake in Lincoln National during the 3rd quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in shares of Lincoln National in the fourth quarter valued at $31,000. Transamerica Financial Advisors LLC bought a new position in shares of Lincoln National in the fourth quarter valued at $32,000. NBT Bank N A NY grew its holdings in shares of Lincoln National by 2,051.1% during the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider's stock valued at $34,000 after buying an additional 923 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Lincoln National during the fourth quarter valued at about $34,000. Institutional investors own 72.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LNC shares. National Bank Financial set a $51.00 target price on shares of Lincoln National in a report on Thursday, July 9th. Bank of America reiterated a "neutral" rating and set a $47.00 price target on shares of Lincoln National in a research note on Thursday, July 30th. UBS Group boosted their price objective on Lincoln National from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Morgan Stanley lowered their price objective on Lincoln National from $43.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, May 21st. Finally, Jefferies Financial Group raised their target price on Lincoln National from $56.00 to $57.00 and gave the company a "buy" rating in a report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Lincoln National currently has a consensus rating of "Hold" and a consensus target price of $46.43.

Lincoln National Stock Down 1.4%

Shares of NYSE LNC opened at $46.03 on Friday. The business has a 50-day moving average of $39.34 and a 200-day moving average of $37.63. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 3.99, a PEG ratio of 1.68 and a beta of 1.15. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.62. Lincoln National Corporation has a 12 month low of $32.18 and a 12 month high of $47.67.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the firm posted $2.36 earnings per share. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts expect that Lincoln National Corporation will post 7.82 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.80 annualized dividend and a yield of 3.9%. Lincoln National's dividend payout ratio (DPR) is currently 15.60%.

Insider Buying and Selling

In related news, EVP Craigt T. Beazer sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the completion of the transaction, the executive vice president owned 103,906 shares of the company's stock, valued at $3,579,561.70. This trade represents a 22.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.03% of the stock is owned by insiders.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

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