Bank of New York Mellon Corp Has $80.06 Million Stake in Lincoln National Corporation $LNC

Key Points

• Bank of New York Mellon cut its stake in Lincoln National by 5.5% in the fourth quarter, but still held 1.8 million shares valued at about $80.1 million.
• Lincoln National continues to see heavy institutional ownership, with hedge funds and asset managers controlling 72.81% of the stock; meanwhile, EVP Craigt T. Beazer sold 30,000 shares in a recent insider transaction.
• The company reported Q1 earnings of $1.66 per share, topping estimates, and it also announced a quarterly dividend of $0.45 per share for a 5.1% annualized yield.

Bank of New York Mellon Corp lowered its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,797,919 shares of the financial services provider's stock after selling 104,706 shares during the period. Bank of New York Mellon Corp owned about 0.95% of Lincoln National worth $80,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Lincoln National by 6.3% in the third quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider's stock valued at $802,717,000 after acquiring an additional 1,183,934 shares during the last quarter. State Street Corp increased its position in shares of Lincoln National by 0.7% during the 2nd quarter. State Street Corp now owns 6,199,526 shares of the financial services provider's stock worth $214,504,000 after purchasing an additional 40,676 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lincoln National by 25.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,730,727 shares of the financial services provider's stock worth $231,121,000 after purchasing an additional 1,157,599 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Lincoln National by 5.0% during the 3rd quarter. First Trust Advisors LP now owns 4,879,862 shares of the financial services provider's stock worth $196,805,000 after purchasing an additional 234,415 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Lincoln National by 58.7% in the 4th quarter. Jennison Associates LLC now owns 3,681,158 shares of the financial services provider's stock valued at $163,922,000 after buying an additional 1,361,835 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Craigt T. Beazer sold 30,000 shares of Lincoln National stock in a transaction 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 sale, the executive vice president owned 103,906 shares of the company's stock, valued at approximately $3,579,561.70. This trade represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LNC shares. TD Cowen dropped their price target on shares of Lincoln National from $43.00 to $38.00 and set a "hold" rating on the stock in a research report on Monday, March 9th. Mizuho lowered their price objective on shares of Lincoln National from $54.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 13th. UBS Group reaffirmed a "neutral" rating and issued a $39.00 target price on shares of Lincoln National in a report on Thursday, May 14th. Keefe, Bruyette & Woods raised their target price on shares of Lincoln National from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. reduced their price target on Lincoln National from $42.00 to $40.00 and set an "underweight" rating for the company in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $43.00.

Lincoln National Stock Performance

Shares of LNC stock opened at $35.07 on Tuesday. Lincoln National Corporation has a 52 week low of $31.69 and a 52 week high of $46.82. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 4.07, a PEG ratio of 2.23 and a beta of 1.17. The company has a 50-day simple moving average of $35.54 and a 200 day simple moving average of $38.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $4.87 billion for the quarter, compared to analysts' expectations of $4.93 billion. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The business's revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. On average, sell-side analysts predict that Lincoln National Corporation will post 7.72 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, July 10th. This represents a $1.80 annualized dividend and a yield of 5.1%. Lincoln National's dividend payout ratio (DPR) is presently 20.88%.

About Lincoln National

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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