Chesley Taft & Associates LLC Acquires New Holdings in Lincoln National Co. (NYSE:LNC)

Chesley Taft & Associates LLC acquired a new stake in shares of Lincoln National Co. (NYSE:LNCGet Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,209 shares of the financial services provider’s stock, valued at approximately $244,000.

Other institutional investors also recently added to or reduced their stakes in the company. Private Capital Group LLC increased its position in shares of Lincoln National by 48.2% in the first quarter. Private Capital Group LLC now owns 483 shares of the financial services provider’s stock valued at $32,000 after buying an additional 157 shares in the last quarter. Wedbush Securities Inc. increased its position in shares of Lincoln National by 3.9% during the first quarter. Wedbush Securities Inc. now owns 5,387 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 200 shares in the last quarter. Affinity Wealth Management LLC increased its position in shares of Lincoln National by 6.4% during the first quarter. Affinity Wealth Management LLC now owns 3,436 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 207 shares in the last quarter. Balasa Dinverno & Foltz LLC increased its position in shares of Lincoln National by 2.7% during the first quarter. Balasa Dinverno & Foltz LLC now owns 8,675 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 229 shares in the last quarter. Finally, Waldron Private Wealth LLC increased its position in shares of Lincoln National by 4.7% during the first quarter. Waldron Private Wealth LLC now owns 5,182 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 233 shares in the last quarter. Institutional investors own 77.37% of the company’s stock.

Lincoln National Price Performance

LNC stock opened at $48.04 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $8.18 billion, a PE ratio of 10.01, a P/E/G ratio of 0.33 and a beta of 1.89. Lincoln National Co. has a 12-month low of $44.89 and a 12-month high of $77.57. The business’s fifty day moving average price is $48.67 and its 200 day moving average price is $54.82.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $1.80 annualized dividend and a dividend yield of 3.75%. Lincoln National’s dividend payout ratio is presently 37.50%.

Analyst Ratings Changes

Several brokerages recently commented on LNC. Evercore ISI dropped their price target on Lincoln National from $78.00 to $66.00 and set an “in-line” rating for the company in a research report on Wednesday, July 6th. JPMorgan Chase & Co. dropped their price target on Lincoln National from $83.00 to $77.00 in a research report on Monday, July 11th. Morgan Stanley dropped their price target on Lincoln National from $80.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Royal Bank of Canada lowered their price objective on Lincoln National from $71.00 to $57.00 in a research note on Friday, August 5th. Finally, The Goldman Sachs Group lowered their price objective on Lincoln National from $78.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, June 6th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.90.

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.

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

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