Lincoln National Corporation $LNC Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Lincoln National Corporation (NYSE:LNC) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 542,220 shares of the financial services provider’s stock after purchasing an additional 17,577 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.28% of Lincoln National worth $19,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LNC. Baird Financial Group Inc. bought a new stake in Lincoln National during the 1st quarter valued at $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Lincoln National by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock worth $2,585,000 after acquiring an additional 16,991 shares during the period. Empowered Funds LLC grew its stake in shares of Lincoln National by 316.9% in the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock worth $2,123,000 after purchasing an additional 44,936 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Lincoln National by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock worth $22,383,000 after purchasing an additional 29,421 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Lincoln National by 39.1% during the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 5,486 shares during the period. Institutional investors own 72.81% of the company’s stock.

Insider Activity at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $34.45, for a total value of $1,033,500.00. Following the completion of the transaction, the executive vice president owned 103,906 shares in the company, valued at $3,579,561.70. This trade represents a 22.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.03% of the stock is currently owned by corporate insiders.

Lincoln National Price Performance

Shares of NYSE LNC opened at $41.81 on Wednesday. Lincoln National Corporation has a twelve month low of $32.18 and a twelve month high of $46.82. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $37.00 and a two-hundred day moving average of $37.53. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 4.85, a PEG ratio of 2.94 and a beta of 1.17.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.93 billion. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 EPS. As a group, analysts expect that Lincoln National Corporation will post 7.73 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. Lincoln National’s payout ratio is 20.88%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LNC shares. National Bank Financial set a $51.00 price objective on shares of Lincoln National in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Lincoln National from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Tuesday. Bank of America lowered their target price on shares of Lincoln National from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Wells Fargo & Company boosted their price target on shares of Lincoln National from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Jefferies Financial Group upped their price target on shares of Lincoln National from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $44.93.

Lincoln National Profile

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.