Edgestream Partners L.P. Invests $4.77 Million in Lincoln National Corporation (NYSE:LNC)

Edgestream Partners L.P. bought a new stake in Lincoln National Corporation (NYSE:LNC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 132,693 shares of the financial services provider's stock, valued at approximately $4,765,000. Edgestream Partners L.P. owned 0.08% of Lincoln National at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LNC. M Holdings Securities Inc. acquired a new position in shares of Lincoln National during the 4th quarter valued at $29,000. Kapitalo Investimentos Ltda acquired a new position in shares of Lincoln National during the 4th quarter valued at $32,000. NBC Securities Inc. acquired a new position in shares of Lincoln National during the 1st quarter valued at $33,000. Headlands Technologies LLC acquired a new position in shares of Lincoln National during the 4th quarter valued at $35,000. Finally, Aster Capital Management DIFC Ltd increased its position in shares of 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 valued at $40,000 after purchasing an additional 807 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Lincoln National from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. lifted their price target on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. UBS Group raised 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. Barclays raised their price objective on Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, Piper Sandler reduced their price objective on Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $38.78.

Insider Activity

In other news, EVP Brian Kroll sold 10,075 shares of the business'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 value of $333,482.50. Following the transaction, the executive vice president directly owned 48,743 shares of the company's stock, valued at $1,613,393.30. The trade was a 17.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean Woodroffe sold 43,622 shares of the business'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 completion of the transaction, the executive vice president directly owned 154,102 shares in the company, valued at $5,051,463.56. The trade was a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.51% of the company's stock.

Lincoln National Stock Up 0.2%

Shares of LNC traded up $0.06 during mid-day trading on Friday, hitting $34.54. 1,589,312 shares of the company's stock were exchanged, compared to its average volume of 1,689,876. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $39.85. The firm has a fifty day moving average of $33.71 and a two-hundred day moving average of $34.01. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 4.91, a P/E/G ratio of 0.50 and a beta of 1.39. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.81.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates 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 for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. On average, sell-side analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.80 annualized dividend and a yield of 5.21%. Lincoln National's dividend payout ratio is 25.57%.

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.