Cibc World Markets Corp Purchases 25,284 Shares of Lincoln National Co. (NYSE:LNC)

Cibc World Markets Corp lifted its position in shares of Lincoln National Co. (NYSE:LNC – Get Rating) by 98.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,865 shares of the financial services provider’s stock after purchasing an additional 25,284 shares during the quarter. Cibc World Markets Corp’s holdings in Lincoln National were worth $1,563,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Achmea Investment Management B.V. purchased a new position in Lincoln National during the first quarter valued at $30,000. Ronald Blue Trust Inc. raised its stake in Lincoln National by 134.2% during the fourth quarter. Ronald Blue Trust Inc. now owns 712 shares of the financial services provider’s stock valued at $31,000 after buying an additional 408 shares during the last quarter. Boyd Watterson Asset Management LLC OH purchased a new position in Lincoln National during the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake in Lincoln National by 51.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 895 shares of the financial services provider’s stock valued at $27,000 after buying an additional 304 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new position in Lincoln National during the fourth quarter valued at $31,000. 78.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada lowered their price objective on Lincoln National from $31.00 to $26.00 in a research note on Thursday, May 11th. JPMorgan Chase & Co. cut their price target on Lincoln National from $36.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 4th. Barclays cut their price target on Lincoln National from $20.00 to $17.00 in a report on Wednesday, May 3rd. The Goldman Sachs Group dropped their price objective on Lincoln National from $39.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, April 5th. Finally, Piper Sandler decreased their price target on Lincoln National from $23.00 to $22.00 in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Lincoln National presently has an average rating of “Hold” and an average price target of $31.43.

Lincoln National Price Performance

NYSE:LNC opened at $20.95 on Friday. Lincoln National Co. has a 12 month low of $18.50 and a 12 month high of $58.68. The stock has a 50 day moving average of $21.07 and a two-hundred day moving average of $29.04. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.04.

Lincoln National (NYSE:LNC – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.59 billion. Lincoln National had a negative return on equity of 17.09% and a negative net margin of 17.97%. The business’s revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 earnings per share. Analysts expect that Lincoln National Co. will post 7.14 EPS for the current fiscal year.

Insider Activity

In related news, Director Gary C. Kelly purchased 7,838 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was acquired at an average cost of $25.52 per share, for a total transaction of $200,025.76. Following the completion of the transaction, the director now directly owns 15,007 shares of the company’s stock, valued at $382,978.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.55% of the company’s stock.

About Lincoln National

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Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.