Bank of New York Mellon Corp Has $63.15 Million Stock Holdings in Lincoln National Corporation $LNC

Bank of New York Mellon Corp decreased its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 1.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,778,894 shares of the financial services provider’s stock after selling 19,025 shares during the period. Bank of New York Mellon Corp owned approximately 0.93% of Lincoln National worth $63,151,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of Lincoln National during the third quarter worth $29,000. V Square Quantitative Management LLC acquired a new position in Lincoln National in the fourth quarter valued at about $31,000. Transamerica Financial Advisors LLC bought a new position in Lincoln National during the fourth quarter worth about $32,000. NBT Bank N A NY boosted its holdings in Lincoln National by 2,051.1% during the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider’s stock worth $34,000 after buying an additional 923 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Lincoln National during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Price Performance

NYSE LNC opened at $41.68 on Thursday. The business has a 50 day simple moving average of $37.15 and a 200 day simple moving average of $37.51. Lincoln National Corporation has a 52-week low of $32.18 and a 52-week high of $46.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 4.84, a PEG ratio of 2.96 and a beta of 1.17.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the company posted $1.60 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts anticipate 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. Investors of record on Friday, July 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Lincoln National’s dividend payout ratio is presently 20.88%.

Analyst Ratings Changes

A number of brokerages have recently commented on LNC. Keefe, Bruyette & Woods upped their price target on Lincoln National from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Barclays upgraded shares of Lincoln National from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $42.00 to $45.00 in a report on Monday, July 6th. JPMorgan Chase & Co. upped their target price on shares of Lincoln National from $40.00 to $42.00 and gave the company an “underweight” rating in a research note on Tuesday. Morgan Stanley reduced their price target on shares of Lincoln National from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Finally, TD Cowen upped their price objective on shares of Lincoln National from $37.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.21.

Insiders Place Their Bets

In other Lincoln National news, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the completion of the transaction, the executive vice president owned 103,906 shares in the company, valued at approximately $3,579,561.70. This represents a 22.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.03% 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.