Jessup Wealth Management Inc Makes New Investment in Lincoln National Corporation (NYSE:LNC)

Jessup Wealth Management Inc acquired a new position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 154,018 shares of the financial services provider's stock, valued at approximately $5,531,000. Lincoln National comprises about 2.3% of Jessup Wealth Management Inc's portfolio, making the stock its 18th biggest position. Jessup Wealth Management Inc owned about 0.09% of Lincoln National as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Lincoln National during the fourth quarter valued at approximately $76,951,000. Balyasny Asset Management L.P. grew its stake in shares of Lincoln National by 301.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider's stock valued at $48,269,000 after buying an additional 1,142,759 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Lincoln National by 84.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider's stock valued at $48,948,000 after buying an additional 708,584 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Lincoln National by 1,818.4% during the first quarter. SG Americas Securities LLC now owns 661,972 shares of the financial services provider's stock valued at $23,771,000 after buying an additional 627,466 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Lincoln National by 190.9% during the fourth quarter. LPL Financial LLC now owns 741,330 shares of the financial services provider's stock valued at $23,508,000 after buying an additional 486,478 shares during the last quarter. 72.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Lincoln National

In other news, EVP Brian Kroll sold 10,075 shares of the stock in a transaction on 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 represents a 17.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,429,929.16. Following the sale, the executive vice president owned 154,102 shares of the company's stock, valued at approximately $5,051,463.56. This represents a 22.06% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Lincoln National Stock Down 1.4%

NYSE LNC traded down $0.48 during midday trading on Monday, hitting $34.29. 2,119,734 shares of the company traded hands, compared to its average volume of 1,667,582. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.25 and a quick ratio of 0.25. The company has a market cap of $5.85 billion, a PE ratio of 4.87, a price-to-earnings-growth ratio of 0.46 and a beta of 1.39. The company's 50-day simple moving average is $33.41 and its 200-day simple moving average is $33.86. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last announced 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. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.71 billion. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The business's revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. As a group, equities research analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given 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 5.25%. Lincoln National's dividend payout ratio (DPR) is presently 25.57%.

Analysts Set New Price Targets

A number of research analysts have recently commented on LNC shares. Keefe, Bruyette & Woods cut their target price on Lincoln National from $40.00 to $38.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 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. Piper Sandler dropped their price objective on Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Morgan Stanley increased their price objective on Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Barclays increased 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. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $37.00.

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.