Lincoln National Corporation (NYSE:LNC) Holdings Increased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in Lincoln National Corporation (NYSE:LNC - Free Report) by 5.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 861,793 shares of the financial services provider's stock after buying an additional 41,287 shares during the period. Victory Capital Management Inc. owned about 0.50% of Lincoln National worth $30,947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LNC. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lincoln National by 2.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,854,788 shares of the financial services provider's stock worth $174,335,000 after purchasing an additional 97,600 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Lincoln National during the first quarter worth $4,765,000. CWM LLC grew its holdings in Lincoln National by 8.2% in the 1st quarter. CWM LLC now owns 17,426 shares of the financial services provider's stock valued at $626,000 after buying an additional 1,325 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Lincoln National by 11.7% during the 1st quarter. New York State Common Retirement Fund now owns 100,618 shares of the financial services provider's stock worth $3,613,000 after acquiring an additional 10,500 shares during the period. Finally, Xponance Inc. boosted its position in shares of Lincoln National by 7.5% during the 1st quarter. Xponance Inc. now owns 8,571 shares of the financial services provider's stock valued at $308,000 after acquiring an additional 598 shares during the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Sean Woodroffe sold 43,622 shares of Lincoln National stock in a transaction dated 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 sale, the executive vice president directly owned 154,102 shares of the company's stock, valued at approximately $5,051,463.56. The trade was a 22.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of Lincoln National stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the sale, the executive vice president owned 48,743 shares in the company, valued at $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. Insiders own 0.51% of the company's stock.

Lincoln National Price Performance

Lincoln National stock traded up $0.42 during mid-day trading on Tuesday, reaching $34.54. The company had a trading volume of 1,406,917 shares, compared to its average volume of 1,692,046. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $39.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.25 and a quick ratio of 0.25. The stock's 50-day simple moving average is $33.71 and its 200-day simple moving average is $34.04. The company has a market capitalization of $5.89 billion, a P/E ratio of 4.91, a P/E/G ratio of 0.50 and a beta of 1.39.

Lincoln National (NYSE:LNC - Get Free Report) last announced its 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. 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 during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities analysts predict that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LNC shares. 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 report on Thursday, July 10th. Piper Sandler decreased their price target on Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Morgan Stanley lifted their price objective 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. JPMorgan Chase & Co. boosted 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. Finally, Wall Street Zen cut shares of Lincoln National from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $38.78.

Lincoln National Company Profile

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.