Nisa Investment Advisors LLC cut its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 16.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jessup Wealth Management Inc acquired a new position in Lincoln National during the first quarter valued at $5,531,000. Envestnet Asset Management Inc. increased its holdings 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 buying an additional 17,721 shares in the last quarter. Strategic Blueprint LLC increased its holdings 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 buying an additional 1,033 shares in the last quarter. Huntleigh Advisors Inc. increased its holdings 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 buying an additional 23,636 shares in the last quarter. Finally, Conning Inc. purchased a new position in Lincoln National in the first quarter valued at $694,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.
Lincoln National Price Performance
Shares of Lincoln National stock traded up $0.35 on Thursday, hitting $34.00. 199,003 shares of the company were exchanged, compared to its average volume of 1,677,614. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 4.83, a price-to-earnings-growth ratio of 0.44 and a beta of 1.39. The company has a 50-day moving average price of $33.66 and a 200 day moving average price of $33.97. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year 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 issued its earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $4.71 billion. During the same period in the previous year, the firm posted $0.41 EPS. The business's revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, sell-side analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.
Lincoln National Dividend Announcement
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 paid a $0.45 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.29%. Lincoln National's dividend payout ratio (DPR) is 25.57%.
Insider Activity at Lincoln National
In other news, EVP Sean Woodroffe sold 43,622 shares of the 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 completion of the sale, the executive vice president owned 154,102 shares of the company's stock, valued at $5,051,463.56. This represents a 22.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on LNC. UBS Group lifted their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. boosted their target price on shares of Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their target price on shares of Lincoln National from $39.00 to $40.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Morgan Stanley boosted their target price on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Barclays boosted their target price on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $38.78.
Get Our Latest Report on LNC
Lincoln National Company Profile
(
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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