Janney Montgomery Scott LLC Has $6.16 Million Position in Lincoln National Co. (NYSE:LNC)

Janney Montgomery Scott LLC boosted its holdings in shares of Lincoln National Co. (NYSE:LNCFree Report) by 15.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,961 shares of the financial services provider’s stock after buying an additional 25,234 shares during the period. Janney Montgomery Scott LLC owned about 0.11% of Lincoln National worth $6,161,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in Lincoln National during the fourth quarter worth $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Lincoln National in the 4th quarter valued at $35,000. CVA Family Office LLC acquired a new stake in shares of Lincoln National in the 4th quarter valued at $37,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Lincoln National in the 4th quarter valued at $38,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Lincoln National by 249.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 873 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Stock Performance

Shares of NYSE:LNC opened at $30.80 on Wednesday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 4.21, a P/E/G ratio of 0.24 and a beta of 1.84. Lincoln National Co. has a 1-year low of $20.85 and a 1-year high of $33.33. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $31.02 and a two-hundred day moving average price of $29.03.

Lincoln National (NYSE:LNCGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.27. The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. Equities analysts predict that Lincoln National Co. will post 5.99 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.80 annualized dividend and a yield of 5.84%. Lincoln National’s dividend payout ratio is currently 24.62%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LNC. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Jefferies Financial Group boosted their target price on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on shares of Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company reduced their target price on shares of Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Finally, Piper Sandler lifted their price target on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Lincoln National has a consensus rating of “Hold” and an average target price of $31.20.

Read Our Latest Report on Lincoln National

Insiders Place Their Bets

In other Lincoln National news, EVP Sean Woodroffe sold 55,127 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the completion of the sale, the executive vice president now directly owns 198,255 shares of the company’s stock, valued at approximately $6,457,165.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

About Lincoln National

(Free Report)

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.

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

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