Lincoln National Co. (NYSE:LNC) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in shares of Lincoln National Co. (NYSE:LNC) by 4.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,750 shares of the financial services provider’s stock after acquiring an additional 640 shares during the period. Concurrent Investment Advisors LLC’s holdings in Lincoln National were worth $490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LNC. Federated Hermes Inc. lifted its stake in Lincoln National by 307.5% in the 4th quarter. Federated Hermes Inc. now owns 6,924 shares of the financial services provider’s stock valued at $187,000 after buying an additional 5,225 shares in the last quarter. Savant Capital LLC lifted its position in shares of Lincoln National by 13.9% in the fourth quarter. Savant Capital LLC now owns 9,412 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 1,148 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Lincoln National by 20.3% in the fourth quarter. Victory Capital Management Inc. now owns 699,620 shares of the financial services provider’s stock worth $18,869,000 after acquiring an additional 117,983 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Lincoln National by 62.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 14,891 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 5,710 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Lincoln National by 0.8% in the 4th quarter. Amalgamated Bank now owns 76,960 shares of the financial services provider’s stock valued at $2,076,000 after purchasing an additional 635 shares during the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Price Performance

LNC stock opened at $32.10 on Tuesday. Lincoln National Co. has a 52-week low of $20.85 and a 52-week high of $36.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 4.39, a price-to-earnings-growth ratio of 0.33 and a beta of 1.84. The business has a fifty day moving average of $31.46 and a two-hundred day moving average of $30.17.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same period in the prior year, the business posted $2.02 EPS. As a group, research analysts anticipate that Lincoln National Co. will post 5.74 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s dividend payout ratio is presently 24.62%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LNC. Wells Fargo & Company dropped their target price on shares of Lincoln National from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. upped their price objective 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. Jefferies Financial Group raised their target price on shares of Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Morgan Stanley dropped their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, Bank of America reduced their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.40.

Lincoln National Company Profile

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.