Bridgefront Capital LLC Invests $672,000 in Lincoln National Corporation $LNC

Bridgefront Capital LLC acquired a new position in shares of Lincoln National Corporation (NYSE:LNC) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,668 shares of the financial services provider’s stock, valued at approximately $672,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Lincoln National by 6.3% in the third quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider’s stock valued at $802,717,000 after buying an additional 1,183,934 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Lincoln National by 145.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 116,116 shares of the financial services provider’s stock worth $4,683,000 after acquiring an additional 68,827 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Lincoln National by 30.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,931 shares of the financial services provider’s stock valued at $8,180,000 after acquiring an additional 47,419 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Lincoln National by 21.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider’s stock valued at $240,051,000 after acquiring an additional 1,035,505 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in Lincoln National by 101.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 285,105 shares of the financial services provider’s stock valued at $11,498,000 after acquiring an additional 143,862 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on LNC shares. Barclays cut their price target on shares of Lincoln National from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 11th. TD Cowen dropped their price objective on shares of Lincoln National from $43.00 to $38.00 and set a “hold” rating for the company in a report on Monday, March 9th. Mizuho assumed coverage on shares of Lincoln National in a research note on Tuesday, December 16th. They set an “outperform” rating and a $52.00 target price on the stock. National Bank Financial set a $45.00 target price on shares of Lincoln National in a report on Thursday, January 8th. Finally, Zacks Research cut shares of Lincoln National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.46.

Lincoln National Price Performance

LNC stock opened at $32.64 on Monday. The business’s 50-day moving average is $39.32 and its two-hundred day moving average is $40.87. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $6.20 billion, a P/E ratio of 6.15, a P/E/G ratio of 1.46 and a beta of 1.30. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $46.82.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.35. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.85 billion. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 earnings per share. Analysts anticipate that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, April 10th. Lincoln National’s payout ratio is 33.90%.

Insider Buying and Selling at Lincoln National

In other news, EVP James Waltman Reid sold 3,050 shares of Lincoln National stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $41.81, for a total transaction of $127,520.50. Following the completion of the sale, the executive vice president directly owned 118,567 shares of the company’s stock, valued at approximately $4,957,286.27. The trade was a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean Woodroffe sold 8,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $32.74, for a total transaction of $261,920.00. Following the transaction, the executive vice president owned 198,159 shares of the company’s stock, valued at approximately $6,487,725.66. The trade was a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 21,050 shares of company stock valued at $734,041. Insiders own 0.54% of the company’s stock.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.