New York State Common Retirement Fund Has $3.61 Million Stake in Lincoln National Corporation (NYSE:LNC)

New York State Common Retirement Fund boosted its position in Lincoln National Corporation (NYSE:LNC - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,618 shares of the financial services provider's stock after buying an additional 10,500 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Lincoln National worth $3,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LNC. Xponance Inc. increased its stake in Lincoln National by 7.5% in the first quarter. Xponance Inc. now owns 8,571 shares of the financial services provider's stock valued at $308,000 after purchasing an additional 598 shares in the last quarter. Cerity Partners LLC increased its stake in Lincoln National by 10.0% in the first quarter. Cerity Partners LLC now owns 53,540 shares of the financial services provider's stock valued at $1,923,000 after purchasing an additional 4,878 shares in the last quarter. DMC Group LLC increased its stake in Lincoln National by 47.1% in the first quarter. DMC Group LLC now owns 25,749 shares of the financial services provider's stock valued at $925,000 after purchasing an additional 8,250 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Lincoln National during the first quarter worth about $348,000. Finally, Allworth Financial LP increased its position in shares of Lincoln National by 12.9% during the first quarter. Allworth Financial LP now owns 5,784 shares of the financial services provider's stock worth $208,000 after acquiring an additional 662 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $34.54 on Wednesday. The stock has a market cap of $5.89 billion, a PE ratio of 4.91, a PEG ratio of 0.50 and a beta of 1.39. The company's fifty day moving average is $33.71 and its 200 day moving average is $34.04. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $39.85. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.81.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. Lincoln National had a net margin of 7.00% and a return on equity of 18.71%. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.71 billion. During the same quarter in the previous year, the company earned $0.41 earnings per share. The company's revenue for the quarter was up 14.0% compared to the same quarter last year. Research analysts anticipate that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Thursday, July 10th. Lincoln National's payout ratio is currently 25.57%.

Insider Activity

In other news, EVP Sean Woodroffe sold 43,622 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 154,102 shares in the company, 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 accessible through this link. Also, EVP Brian Kroll sold 10,075 shares of the company'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 transaction of $333,482.50. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

LNC has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Lincoln National from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Wells Fargo & Company upped their price objective on shares of Lincoln National from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Morgan Stanley upped their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays upped their price objective on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Finally, Piper Sandler reduced their price objective on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $38.78.

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.

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