Bank of New York Mellon Corp Has $73.05 Million Position in Lincoln National Corporation (NYSE:LNC)

Bank of New York Mellon Corp reduced its position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,034,104 shares of the financial services provider's stock after selling 54,729 shares during the period. Bank of New York Mellon Corp owned approximately 1.19% of Lincoln National worth $73,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in Lincoln National during the 1st quarter worth approximately $33,000. M Holdings Securities Inc. bought a new stake in Lincoln National during the 4th quarter worth $29,000. Kapitalo Investimentos Ltda bought a new stake in Lincoln National during the 4th quarter worth $32,000. Headlands Technologies LLC bought a new stake in Lincoln National during the 4th quarter worth $35,000. Finally, Aster Capital Management DIFC Ltd grew its position in Lincoln National by 182.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider's stock worth $40,000 after acquiring an additional 807 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brian Kroll sold 10,075 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total transaction of $333,482.50. Following the transaction, the executive vice president directly owned 48,743 shares of the company's stock, valued at approximately $1,613,393.30. This represents a 17.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean Woodroffe sold 43,622 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total value of $1,429,929.16. Following the transaction, the executive vice president directly owned 154,102 shares in the company, valued at approximately $5,051,463.56. This trade represents a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

Lincoln National Stock Down 0.5%

Shares of NYSE:LNC opened at $34.08 on Friday. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 4.84, a P/E/G ratio of 0.45 and a beta of 1.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.25 and a quick ratio of 0.25. The business's 50-day moving average is $33.62 and its 200-day moving average is $33.93. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $39.85.

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, beating analysts' consensus estimates of $1.54 by $0.06. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.71 billion. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The firm's revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. Equities research analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Thursday, July 10th. Lincoln National's dividend payout ratio is 25.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LNC. Wells Fargo & Company boosted their price objective on Lincoln National from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Thursday. Piper Sandler reduced their price objective on Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Morgan Stanley boosted their price objective on Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods boosted their price objective on Lincoln National from $39.00 to $40.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, UBS Group boosted their price objective on Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, Lincoln National currently has a consensus rating of "Hold" and a consensus target price of $38.78.

Lincoln National Company Profile

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.

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