Nisa Investment Advisors LLC cut its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 16.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,893 shares of the financial services provider's stock after selling 10,765 shares during the period. Nisa Investment Advisors LLC's holdings in Lincoln National were worth $1,935,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jessup Wealth Management Inc bought a new position in shares of Lincoln National during the first quarter valued at approximately $5,531,000. Envestnet Asset Management Inc. boosted its stake in Lincoln National by 17.9% in the first quarter. Envestnet Asset Management Inc. now owns 116,594 shares of the financial services provider's stock valued at $4,187,000 after acquiring an additional 17,721 shares in the last quarter. Strategic Blueprint LLC boosted its stake in Lincoln National by 11.6% in the first quarter. Strategic Blueprint LLC now owns 9,968 shares of the financial services provider's stock valued at $358,000 after acquiring an additional 1,033 shares in the last quarter. Huntleigh Advisors Inc. boosted its stake in Lincoln National by 148.0% in the first quarter. Huntleigh Advisors Inc. now owns 39,604 shares of the financial services provider's stock valued at $1,422,000 after acquiring an additional 23,636 shares in the last quarter. Finally, Conning Inc. acquired a new stake in Lincoln National in the first quarter valued at approximately $694,000. 72.81% of the stock is currently owned by institutional investors.
Lincoln National Trading Up 2.5%
Shares of LNC stock traded up $0.85 during trading hours on Thursday, hitting $34.50. The company had a trading volume of 1,932,760 shares, compared to its average volume of 1,687,136. The company's fifty day moving average is $33.68 and its 200 day moving average is $33.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.25 and a quick ratio of 0.25. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $39.85. The stock has a market capitalization of $5.89 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 0.49 and a beta of 1.39.
Lincoln National (NYSE:LNC - Get Free Report) last announced 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 net margin of 7.00% and a return on equity of 18.71%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the prior year, the firm posted $0.41 EPS. The company's quarterly revenue was up 14.0% compared to the same quarter last year. Research analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.
Lincoln National Announces Dividend
The business also recently announced 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. This represents a $1.80 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend is Thursday, July 10th. Lincoln National's payout ratio is 25.57%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on LNC. Wells Fargo & Company raised their target price on shares of Lincoln National from $33.00 to $35.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Barclays raised their target price on shares of Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Morgan Stanley raised their price target on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. UBS Group raised their price target on shares of Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $38.78.
Check Out Our Latest Analysis on LNC
Insider Buying and Selling at Lincoln National
In other news, EVP Brian Kroll sold 10,075 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value 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 trade represents a 17.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sean Woodroffe sold 43,622 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president owned 154,102 shares of the company's stock, valued at $5,051,463.56. This trade represents 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.
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.
See Also
Before you consider Lincoln National, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lincoln National wasn't on the list.
While Lincoln National currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
