New Century Financial Group LLC Takes $1.17 Million Position in Lincoln National Co. (NYSE:LNC)

New Century Financial Group LLC acquired a new stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 43,250 shares of the financial services provider's stock, valued at approximately $1,166,000. Lincoln National makes up approximately 1.0% of New Century Financial Group LLC's portfolio, making the stock its 14th largest holding.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Lincoln National by 24.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,468,971 shares of the financial services provider's stock valued at $36,269,000 after purchasing an additional 289,733 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Lincoln National by 12.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,130 shares of the financial services provider's stock valued at $793,000 after purchasing an additional 3,549 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new position in Lincoln National in the 3rd quarter valued at about $227,000. Yousif Capital Management LLC boosted its holdings in Lincoln National by 170.5% in the 3rd quarter. Yousif Capital Management LLC now owns 91,298 shares of the financial services provider's stock valued at $2,254,000 after purchasing an additional 57,546 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in Lincoln National by 26.5% in the 3rd quarter. 180 Wealth Advisors LLC now owns 10,401 shares of the financial services provider's stock valued at $257,000 after purchasing an additional 2,179 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Stock Up 0.7 %

Shares of LNC traded up $0.20 during midday trading on Friday, hitting $30.26. The company had a trading volume of 1,067,232 shares, compared to its average volume of 1,634,415. The company's 50-day simple moving average is $28.97 and its 200-day simple moving average is $27.10. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market capitalization of $5.15 billion, a P/E ratio of 4.14, a P/E/G ratio of 0.24 and a beta of 1.80. Lincoln National Co. has a 1 year low of $20.47 and a 1 year high of $32.43.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend was Tuesday, April 9th. Lincoln National's payout ratio is presently 24.62%.

Wall Street Analysts Forecast Growth

LNC has been the topic of several recent analyst reports. Evercore ISI upped their price objective on shares of Lincoln National from $33.00 to $35.00 and gave the stock an "in-line" rating in a report on Thursday, April 11th. Piper Sandler dropped their price objective on Lincoln National from $32.00 to $30.00 and set a "neutral" rating for the company in a research note on Monday, May 6th. Jefferies Financial Group upgraded Lincoln National from an "underperform" rating to a "hold" rating in a report on Monday, February 12th. Wells Fargo & Company lowered their target price on Lincoln National from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Friday, May 10th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Lincoln National from $30.00 to $32.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.40.

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.