DMC Group LLC Purchases 8,250 Shares of Lincoln National Corporation (NYSE:LNC)

DMC Group LLC raised its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 47.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,749 shares of the financial services provider's stock after acquiring an additional 8,250 shares during the quarter. DMC Group LLC's holdings in Lincoln National were worth $925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Alps Advisors Inc. bought a new stake in shares of Lincoln National during the 1st quarter worth about $348,000. Allworth Financial LP increased its position in Lincoln National by 12.9% during the 1st quarter. Allworth Financial LP now owns 5,784 shares of the financial services provider's stock worth $208,000 after buying an additional 662 shares during the period. Jessup Wealth Management Inc bought a new stake in shares of Lincoln National in the first quarter valued at about $5,531,000. Envestnet Asset Management Inc. grew its position in shares of Lincoln National by 17.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 116,594 shares of the financial services provider's stock worth $4,187,000 after purchasing an additional 17,721 shares in the last quarter. Finally, Strategic Blueprint LLC boosted its stake in shares of Lincoln National by 11.6% in the first quarter. Strategic Blueprint LLC now owns 9,968 shares of the financial services provider's stock valued at $358,000 after buying an additional 1,033 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 sale, the executive vice president owned 48,743 shares in the company, valued at approximately $1,613,393.30. This trade represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sean Woodroffe sold 43,622 shares of Lincoln National stock in a transaction on 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 completion of the sale, the executive vice president owned 154,102 shares in the company, valued at approximately $5,051,463.56. This 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 insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LNC. Keefe, Bruyette & Woods raised their target price on shares of Lincoln National from $39.00 to $40.00 and gave the company a "market perform" rating in a research report on Wednesday. Piper Sandler cut their target price 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. UBS Group increased their price objective on Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. Morgan Stanley increased their price target on shares of Lincoln National from $32.00 to $38.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. upped their price objective on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. Based on data from MarketBeat, Lincoln National has a consensus rating of "Hold" and an average target price of $37.60.

Lincoln National Stock Performance

Shares of NYSE LNC traded down $0.05 during midday trading on Thursday, hitting $33.92. 52,847 shares of the stock traded hands, compared to its average volume of 1,670,459. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.25 and a current ratio of 0.25. Lincoln National Corporation has a one year low of $27.58 and a one year high of $39.85. The firm has a market capitalization of $5.79 billion, a P/E ratio of 4.82, a PEG ratio of 0.46 and a beta of 1.39. The firm has a 50-day moving average of $33.56 and a two-hundred day moving average of $33.89.

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

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.31%. Lincoln National's payout ratio is currently 25.57%.

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.

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