Lincoln National Corporation (NYSE:LNC) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in Lincoln National Corporation (NYSE:LNC) by 17.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,594 shares of the financial services provider’s stock after acquiring an additional 17,721 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Lincoln National worth $4,187,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LNC. HighPoint Advisor Group LLC boosted its stake in shares of Lincoln National by 3.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 8,460 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 262 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Lincoln National by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 74,806 shares of the financial services provider’s stock valued at $2,372,000 after buying an additional 470 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Lincoln National by 5.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,236 shares of the financial services provider’s stock valued at $293,000 after buying an additional 513 shares during the period. Gotham Asset Management LLC raised its position in Lincoln National by 4.7% during the fourth quarter. Gotham Asset Management LLC now owns 11,720 shares of the financial services provider’s stock valued at $372,000 after buying an additional 524 shares during the period. Finally, Mariner LLC raised its position in Lincoln National by 2.0% during the fourth quarter. Mariner LLC now owns 28,934 shares of the financial services provider’s stock valued at $917,000 after buying an additional 581 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNC has been the subject of a number of research reports. Morgan Stanley lifted their price objective on Lincoln National from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Wells Fargo & Company boosted their target price on Lincoln National from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Barclays upped their price objective on Lincoln National from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Wall Street Zen downgraded Lincoln National from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Finally, JPMorgan Chase & Co. increased their target price on Lincoln National from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, Lincoln National currently has a consensus rating of “Hold” and a consensus price target of $38.78.

Lincoln National Stock Performance

Shares of NYSE LNC opened at $34.83 on Friday. The firm has a 50 day moving average of $33.70 and a 200 day moving average of $34.11. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 4.95, a price-to-earnings-growth ratio of 0.50 and a beta of 1.39. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $39.85.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.54 by $0.06. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.71 billion. Lincoln National had a net margin of 7.00% and a return on equity of 18.71%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, research analysts anticipate that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date is Thursday, July 10th. Lincoln National’s dividend payout ratio (DPR) is 25.57%.

Insiders Place Their Bets

In other Lincoln National news, EVP Sean Woodroffe sold 43,622 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $32.78, for a total transaction of $1,429,929.16. Following the transaction, the executive vice president directly owned 154,102 shares in the company, valued at $5,051,463.56. This represents a 22.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Kroll sold 10,075 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $33.10, for a total transaction of $333,482.50. Following the transaction, the executive vice president owned 48,743 shares in the company, valued at approximately $1,613,393.30. The trade was a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

Lincoln National 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.