Lincoln National Corporation $LNC Shares Bought by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Lincoln National by 45.8% in the first quarter, buying 94,009 additional shares and bringing its total to 299,412 shares valued at about $10.6 million.
• Lincoln National reported better-than-expected quarterly earnings, with EPS of $1.66 versus estimates of $1.58, while revenue came in slightly below forecasts at $4.87 billion.
• The company declared a quarterly dividend of $0.45 per share, equal to an annualized yield of 4.9%, even as analysts currently rate the stock a consensus Hold with an average price target of $43.00.

Janney Montgomery Scott LLC boosted its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 45.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,412 shares of the financial services provider's stock after acquiring an additional 94,009 shares during the quarter. Janney Montgomery Scott LLC owned 0.16% of Lincoln National worth $10,629,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Insight Inv LLC boosted its position in Lincoln National by 0.5% during the fourth quarter. Insight Inv LLC now owns 48,127 shares of the financial services provider's stock worth $2,143,000 after purchasing an additional 250 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Lincoln National by 6.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,110 shares of the financial services provider's stock valued at $185,000 after buying an additional 252 shares in the last quarter. CWM LLC increased its holdings in shares of Lincoln National by 2.1% during the fourth quarter. CWM LLC now owns 12,397 shares of the financial services provider's stock worth $552,000 after purchasing an additional 255 shares during the period. Evergreen Capital Management LLC raised its position in shares of Lincoln National by 3.2% in the second quarter. Evergreen Capital Management LLC now owns 8,815 shares of the financial services provider's stock valued at $305,000 after buying an additional 275 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Lincoln National by 3.3% in the third quarter. Xponance Inc. now owns 8,979 shares of the financial services provider's stock valued at $362,000 after buying an additional 286 shares during the period. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Stock Performance

Shares of LNC opened at $36.95 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.65. Lincoln National Corporation has a 52-week low of $32.18 and a 52-week high of $46.82. The stock has a 50 day moving average price of $36.08 and a 200 day moving average price of $38.02. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 4.29, a price-to-earnings-growth ratio of 2.32 and a beta of 1.17.

Lincoln National (NYSE:LNC - Get Free Report) last posted its earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the firm posted $1.60 EPS. The company's revenue was up 13.1% on a year-over-year basis. Research analysts predict that Lincoln National Corporation will post 7.73 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.9%. Lincoln National's payout ratio is currently 20.88%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LNC shares. JPMorgan Chase & Co. cut their price objective on shares of Lincoln National from $42.00 to $40.00 and set an "underweight" rating on the stock in a research report on Thursday, May 7th. Keefe, Bruyette & Woods upped their target price on Lincoln National from $43.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Weiss Ratings lowered Lincoln National from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Mizuho decreased their target price on shares of Lincoln National from $54.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 13th. Finally, National Bank Financial set a $40.00 target price on Lincoln National in a report on Thursday, May 21st. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $43.00.

Insider Activity at Lincoln National

In other news, EVP Craigt T. Beazer sold 30,000 shares of Lincoln National stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the sale, the executive vice president owned 103,906 shares of the company's stock, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.03% of the company's stock.

Lincoln National Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

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