Envestnet Asset Management Inc. lifted its holdings in shares of Lincoln National Co. (NYSE:LNC – Free Report) by 5.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 163,901 shares of the financial services provider’s stock after acquiring an additional 8,866 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of Lincoln National worth $4,222,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in LNC. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Lincoln National by 368.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,102 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 867 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Lincoln National by 1,197.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,025 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 946 shares during the last quarter. Barrett & Company Inc. bought a new position in shares of Lincoln National in the first quarter worth about $27,000. Achmea Investment Management B.V. bought a new position in shares of Lincoln National in the first quarter worth about $30,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Lincoln National in the first quarter worth about $31,000. 71.89% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. TheStreet raised shares of Lincoln National from a “d+” rating to a “c” rating in a research note on Wednesday, November 1st. Piper Sandler lowered their target price on shares of Lincoln National from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Wells Fargo & Company cut their price target on Lincoln National from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 17th. Jefferies Financial Group lifted their price objective on Lincoln National from $18.00 to $19.00 and gave the stock an “underperform” rating in a research note on Thursday, September 14th. Finally, StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.80.
Lincoln National Stock Down 0.5 %
Lincoln National stock opened at $23.66 on Tuesday. The company has a 50 day moving average of $23.54 and a 200-day moving average of $24.28. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 2.67. Lincoln National Co. has a twelve month low of $18.50 and a twelve month high of $39.40. The stock has a market capitalization of $4.01 billion, a PE ratio of 9.98 and a beta of 1.83.
Lincoln National Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.61%. The ex-dividend date is Tuesday, January 9th. Lincoln National’s dividend payout ratio is 75.95%.
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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