LPL Financial LLC grew its position in Lincoln National Co. (NYSE:LNC – Free Report) by 100.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 208,919 shares of the financial services provider’s stock after acquiring an additional 104,645 shares during the quarter. LPL Financial LLC owned 0.12% of Lincoln National worth $4,694,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Sentry Investment Management LLC bought a new position in Lincoln National in the first quarter worth $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Lincoln National by 51.4% in the 4th 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 in the last quarter. IAG Wealth Partners LLC bought a new position in shares of Lincoln National during the 1st quarter worth about $28,000. Achmea Investment Management B.V. acquired a new stake in shares of Lincoln National during the 1st quarter valued at about $30,000. Finally, Ameritas Advisory Services LLC bought a new stake in Lincoln National in the first quarter valued at about $31,000. Institutional investors and hedge funds own 71.89% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently commented on LNC. Piper Sandler boosted their price target on Lincoln National from $21.00 to $27.00 in a research note on Friday, July 7th. StockNews.com began coverage on shares of Lincoln National in a research report on Thursday, August 17th. They set a “hold” rating for the company. Wells Fargo & Company boosted their price target on shares of Lincoln National from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 15th. Royal Bank of Canada cut their target price on shares of Lincoln National from $31.00 to $26.00 in a research note on Thursday, May 11th. Finally, Barclays boosted their target price on Lincoln National from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Lincoln National has a consensus rating of “Hold” and an average price target of $30.54.
Lincoln National Trading Up 2.1 %
LNC opened at $26.21 on Friday. The firm’s fifty day moving average is $26.44 and its two-hundred day moving average is $24.63. The firm has a market cap of $4.45 billion, a PE ratio of -1.49 and a beta of 1.81. Lincoln National Co. has a twelve month low of $18.50 and a twelve month high of $54.59. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.20 and a current ratio of 0.20.
Lincoln National (NYSE:LNC – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.02 EPS for the quarter, topping the consensus estimate of $1.92 by $0.10. Lincoln National had a negative return on equity of 22.54% and a negative net margin of 18.67%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the business posted $2.23 EPS. Equities research analysts anticipate that Lincoln National Co. will post 7.14 EPS for the current year.
Lincoln National Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date of this dividend is Monday, October 9th. Lincoln National’s payout ratio is presently -10.23%.
About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.
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