Innealta Capital LLC purchased a new position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,631 shares of the financial services provider's stock, valued at approximately $310,000.
Other institutional investors have also recently made changes to their positions in the company. HighPoint Advisor Group LLC raised its stake in Lincoln National by 3.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 8,460 shares of the financial services provider's stock worth $268,000 after buying an additional 262 shares in the last quarter. Forvis Mazars Wealth Advisors LLC increased its holdings in shares of Lincoln National by 3.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 11,199 shares of the financial services provider's stock valued at $355,000 after acquiring an additional 338 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of Lincoln National by 30.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,500 shares of the financial services provider's stock worth $48,000 after acquiring an additional 350 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Lincoln National by 0.9% during the 4th quarter. Arizona State Retirement System now owns 49,394 shares of the financial services provider's stock worth $1,566,000 after purchasing an additional 436 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Lincoln National by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 74,806 shares of the financial services provider's stock worth $2,372,000 after purchasing an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.
Insider Buying and Selling
In related news, EVP Sean Woodroffe sold 43,622 shares of the 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 sale, the executive vice president now directly owns 154,102 shares of the company's stock, valued at approximately $5,051,463.56. This represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of Lincoln National stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $33.10, for a total transaction of $333,482.50. Following the completion of the transaction, the executive vice president now directly owns 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 disclosure for this sale can be found here. Corporate insiders own 0.51% of the company's stock.
Lincoln National Stock Performance
NYSE:LNC traded down $0.21 during trading hours on Wednesday, hitting $32.94. 2,018,111 shares of the company were exchanged, compared to its average volume of 1,647,536. The company's 50 day moving average price is $32.78 and its 200-day moving average price is $33.74. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 4.68, a PEG ratio of 0.44 and a beta of 1.40. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $39.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.25 and a quick ratio of 0.25.
Lincoln National (NYSE:LNC - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.06. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the prior year, the firm earned $0.41 EPS. The firm's revenue was up 14.0% on a year-over-year basis. As a group, research 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 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 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Thursday, July 10th. Lincoln National's payout ratio is 25.57%.
Analysts Set New Price Targets
Several equities analysts have issued reports on LNC shares. Wall Street Zen lowered Lincoln National from a "hold" rating to a "sell" rating in a research note on Sunday, June 15th. Wells Fargo & Company lowered their price target on shares of Lincoln National from $36.00 to $31.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Keefe, Bruyette & Woods cut their price objective on shares of Lincoln National from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Barclays increased their target price on shares of Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, Piper Sandler lowered their target price on shares of 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, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Lincoln National has an average rating of "Hold" and an average target price of $36.82.
Read Our Latest Analysis on Lincoln National
About Lincoln National
(
Free Report)
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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