Sei Investments Co. Raises Position in Lincoln National Corporation $LNC

Key Points

• Sei Investments increased its Lincoln National stake by 9.5% in the first quarter, bringing its holdings to 522,832 shares worth approximately $18.6 million. Institutional investors and hedge funds collectively own 72.81% of the company.
• Lincoln National reported quarterly earnings of $1.66 per share, beating analyst expectations of $1.58, while revenue rose 13.1% year over year to $4.87 billion but fell short of estimates.
• The company declared a quarterly dividend of $0.45 per share, equivalent to an annualized $1.80 payout and a 4.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $45.21.

Sei Investments Co. increased its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,832 shares of the financial services provider's stock after buying an additional 45,549 shares during the quarter. Sei Investments Co. owned 0.27% of Lincoln National worth $18,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in Lincoln National in the third quarter valued at about $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Lincoln National during the fourth quarter worth about $31,000. Transamerica Financial Advisors LLC acquired a new position in shares of Lincoln National during the fourth quarter valued at about $32,000. NBT Bank N A NY increased its holdings in shares of Lincoln National by 2,051.1% during the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 923 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Lincoln National in the 4th quarter valued at approximately $34,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Stock Down 3.3%

Shares of LNC stock opened at $41.42 on Thursday. Lincoln National Corporation has a twelve month low of $32.18 and a twelve month high of $46.82. The stock has a market cap of $7.92 billion, a P/E ratio of 4.81, a P/E/G ratio of 3.03 and a beta of 1.17. The stock has a 50 day moving average of $37.84 and a 200 day moving average of $37.38. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.65.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The business's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 EPS. As a group, sell-side analysts expect that Lincoln National Corporation will post 7.73 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders 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 dividend yield of 4.3%. Lincoln National's dividend payout ratio (DPR) is 20.88%.

Analysts Set New Price Targets

Several research firms have weighed in on LNC. Jefferies Financial Group boosted their target price on shares of Lincoln National from $56.00 to $57.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Weiss Ratings downgraded shares of Lincoln National from a "buy (b-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Lincoln National from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Wells Fargo & Company upped their target price on Lincoln National from $44.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on Lincoln National from $40.00 to $42.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $45.21.

Insiders Place Their Bets

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

About Lincoln National

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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