Jessup Wealth Management Inc Buys Shares of 154,018 Lincoln National Corporation (NYSE:LNC)

Jessup Wealth Management Inc bought a new stake in Lincoln National Corporation (NYSE:LNC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 154,018 shares of the financial services provider's stock, valued at approximately $5,531,000. Lincoln National makes up 2.3% of Jessup Wealth Management Inc's holdings, making the stock its 18th biggest position. Jessup Wealth Management Inc owned approximately 0.09% of Lincoln National at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its stake in shares of Lincoln National by 17.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 116,594 shares of the financial services provider's stock valued at $4,187,000 after purchasing an additional 17,721 shares during the last quarter. Strategic Blueprint LLC lifted its stake in shares of Lincoln National by 11.6% in the 1st quarter. Strategic Blueprint LLC now owns 9,968 shares of the financial services provider's stock valued at $358,000 after purchasing an additional 1,033 shares during the last quarter. Huntleigh Advisors Inc. lifted its stake in Lincoln National by 148.0% during the 1st quarter. Huntleigh Advisors Inc. now owns 39,604 shares of the financial services provider's stock worth $1,422,000 after acquiring an additional 23,636 shares in the last quarter. Conning Inc. acquired a new position in Lincoln National during the 1st quarter worth about $694,000. Finally, Teacher Retirement System of Texas lifted its stake in Lincoln National by 43.9% during the 1st quarter. Teacher Retirement System of Texas now owns 59,164 shares of the financial services provider's stock worth $2,125,000 after acquiring an additional 18,050 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley increased their target price 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. UBS Group increased their target price on Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. Wall Street Zen raised Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Wells Fargo & Company increased their target price on Lincoln National from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Barclays increased their price target on Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $38.00.

Lincoln National Stock Down 0.5%

Shares of LNC traded down $0.18 during mid-day trading on Thursday, reaching $34.25. The company's stock had a trading volume of 2,014,673 shares, compared to its average volume of 1,677,993. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $39.85. The stock has a market cap of $5.85 billion, a PE ratio of 4.86, a price-to-earnings-growth ratio of 0.46 and a beta of 1.39. 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's 50 day moving average is $33.56 and its 200 day moving average is $33.89.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.71% and a net margin of 7.00%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the business posted $0.41 EPS. The business's revenue for the quarter was up 14.0% on a year-over-year basis. Equities analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a $0.45 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.26%. Lincoln National's payout ratio is currently 25.57%.

Insider Transactions at Lincoln National

In related news, EVP Sean Woodroffe sold 43,622 shares of the firm'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 transaction of $1,429,929.16. Following the transaction, the executive vice president owned 154,102 shares in the company, valued at $5,051,463.56. This trade represents a 22.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brian Kroll sold 10,075 shares of the firm'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 owned 48,743 shares in the company, valued at $1,613,393.30. This represents 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.

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.