Bessemer Group Inc. Has $7.24 Million Stock Position in Lincoln National Corporation $LNC

Key Points

• Bessemer Group Inc. increased its Lincoln National stake by 25.4% in Q1, buying 41,345 more shares and bringing its holdings to 203,973 shares valued at about $7.24 million.
• Lincoln National reported better-than-expected earnings of $1.66 per share for the quarter, though revenue came in slightly below forecasts at $4.87 billion. The company also posted 13.1% year-over-year revenue growth.
• The insurer announced a quarterly dividend of $0.45 per share, implying an annual yield of about 4.3%. Meanwhile, analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $44.79.

Bessemer Group Inc. grew its stake in Lincoln National Corporation (NYSE:LNC - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,973 shares of the financial services provider's stock after purchasing an additional 41,345 shares during the period. Bessemer Group Inc. owned approximately 0.11% of Lincoln National worth $7,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in Lincoln National in the 3rd quarter valued at $29,000. V Square Quantitative Management LLC acquired a new position in Lincoln National during the fourth quarter worth $31,000. Transamerica Financial Advisors LLC acquired a new position in Lincoln National during the fourth quarter worth $32,000. NBT Bank N A NY lifted 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 acquiring an additional 923 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Lincoln National during the fourth quarter valued at $34,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lincoln National news, EVP Craigt T. Beazer sold 30,000 shares of the company's stock in a transaction on Friday, June 5th. The shares were 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 in the company, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.03% of the company's stock.

Lincoln National Stock Performance

Lincoln National stock opened at $42.26 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.65. Lincoln National Corporation has a 1 year low of $32.18 and a 1 year high of $46.82. The company has a market cap of $8.08 billion, a PE ratio of 4.90, a PEG ratio of 2.99 and a beta of 1.17. The company's 50-day moving average is $36.73 and its two-hundred day moving average is $37.58.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $4.87 billion during 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%. Lincoln National's revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.60 EPS. Equities analysts anticipate that Lincoln National Corporation will post 7.73 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National's payout ratio is currently 20.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Lincoln National from $44.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Morgan Stanley cut their price target on shares of Lincoln National from $43.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, May 21st. Bank of America reduced their price target on shares of Lincoln National from $41.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings cut shares of Lincoln National from a "buy (b-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Lincoln National from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $44.79.

Lincoln National 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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