HFG Advisors Inc. grew its position in Lincoln National Corporation (NYSE:LNC - Free Report) by 189.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,226 shares of the financial services provider's stock after buying an additional 15,866 shares during the period. HFG Advisors Inc.'s holdings in Lincoln National were worth $870,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Kercheville Advisors LLC bought a new stake in shares of Lincoln National in the 1st quarter valued at about $215,000. Sentry LLC purchased a new position in shares of Lincoln National in the 1st quarter valued at approximately $226,000. Janney Montgomery Scott LLC raised its position in shares of Lincoln National by 22.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 184,957 shares of the financial services provider's stock valued at $6,642,000 after purchasing an additional 33,644 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Lincoln National by 3.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 76,622 shares of the financial services provider's stock valued at $2,751,000 after purchasing an additional 2,263 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Lincoln National by 6.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,437 shares of the financial services provider's stock valued at $1,129,000 after purchasing an additional 1,770 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.
Insider Activity
In other Lincoln National news, EVP Brian Kroll sold 10,075 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value of $333,482.50. Following the transaction, the executive vice president now owns 48,743 shares of the company's stock, valued at $1,613,393.30. This represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sean Woodroffe sold 43,622 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 154,102 shares in the company, valued at $5,051,463.56. The trade was a 22.06% 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 Price Performance
LNC traded down $0.16 on Friday, hitting $33.01. 2,651,302 shares of the company's stock were exchanged, compared to its average volume of 1,635,145. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $39.85. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $32.67 and a 200-day moving average price of $33.76. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 4.69, a P/E/G ratio of 0.43 and a beta of 1.40.
Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.71 billion. Lincoln National had a net margin of 7.00% and a return on equity of 18.71%. The company's revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. As a group, equities analysts anticipate 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. Stockholders 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 dividend yield of 5.45%. Lincoln National's payout ratio is 25.57%.
Analyst Ratings Changes
A number of equities analysts have issued reports on LNC shares. Wall Street Zen lowered shares of Lincoln National from a "hold" rating to a "sell" rating in a research report on Sunday, June 15th. Piper Sandler cut their target price on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Barclays lifted their target price on shares of Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Wells Fargo & Company cut their target price on shares of Lincoln National from $36.00 to $31.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley lifted their target price on shares of Lincoln National from $32.00 to $38.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $36.82.
View Our Latest Report 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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