Steward Partners Investment Advisory LLC Has $71,000 Stock Position in Lincoln National Co. (NYSE:LNC)

Steward Partners Investment Advisory LLC increased its position in shares of Lincoln National Co. (NYSE:LNCGet Rating) by 42.7% during the 1st quarter, Holdings Channel reports. The firm owned 1,090 shares of the financial services provider’s stock after purchasing an additional 326 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Lincoln National were worth $71,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Lincoln National by 4.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,837,104 shares of the financial services provider’s stock worth $193,660,000 after acquiring an additional 123,856 shares during the period. Northern Trust Corp grew its stake in Lincoln National by 1.3% in the 4th quarter. Northern Trust Corp now owns 2,461,149 shares of the financial services provider’s stock worth $167,998,000 after buying an additional 32,498 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Lincoln National by 1.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,463,383 shares of the financial services provider’s stock worth $99,891,000 after buying an additional 19,991 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Lincoln National by 17.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,048,157 shares of the financial services provider’s stock worth $71,548,000 after buying an additional 154,729 shares in the last quarter. Finally, RNC Capital Management LLC grew its stake in Lincoln National by 1.1% in the 4th quarter. RNC Capital Management LLC now owns 802,789 shares of the financial services provider’s stock worth $54,798,000 after buying an additional 9,048 shares in the last quarter. 86.40% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Stock Up 3.1 %

NYSE LNC opened at $51.79 on Thursday. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average of $50.35 and a two-hundred day moving average of $59.72. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 0.31 and a beta of 1.89. Lincoln National Co. has a 52 week low of $44.89 and a 52 week high of $77.57.

Lincoln National (NYSE:LNCGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The financial services provider reported $1.66 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.31). The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Lincoln National had a return on equity of 7.68% and a net margin of 6.62%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 earnings per share. On average, analysts predict that Lincoln National Co. will post 8.8 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Friday, July 8th. Lincoln National’s payout ratio is 26.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LNC. Wolfe Research reaffirmed a “peer perform” rating on shares of Lincoln National in a research note on Thursday, June 23rd. Evercore ISI cut their price objective on shares of Lincoln National from $78.00 to $66.00 and set an “in-line” rating for the company in a research note on Wednesday, July 6th. Piper Sandler cut their price objective on shares of Lincoln National from $70.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. The Goldman Sachs Group cut their price objective on shares of Lincoln National from $78.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Finally, Citigroup began coverage on shares of Lincoln National in a research note on Monday, May 23rd. They issued a “neutral” rating and a $56.00 price objective for the company. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.73.

Lincoln National Company Profile

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Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.

See Also

Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Co. (NYSE:LNCGet Rating).

Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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