Edgestream Partners L.P. Invests $1.83 Million in Lincoln National Co. (NYSE:LNC)

Edgestream Partners L.P. purchased a new position in shares of Lincoln National Co. (NYSE:LNC) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 57,183 shares of the financial services provider’s stock, valued at approximately $1,826,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LNC. Security Financial Services INC. lifted its holdings in Lincoln National by 4.6% during the 4th quarter. Security Financial Services INC. now owns 8,803 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 385 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Lincoln National by 32.6% during the 1st quarter. Global Retirement Partners LLC now owns 1,667 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 410 shares in the last quarter. Allworth Financial LP lifted its holdings in Lincoln National by 14.4% during the 4th quarter. Allworth Financial LP now owns 4,238 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 532 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Lincoln National by 0.6% during the 4th quarter. Yousif Capital Management LLC now owns 91,833 shares of the financial services provider’s stock worth $2,477,000 after purchasing an additional 535 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of 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 acquiring an additional 635 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on LNC shares. Piper Sandler raised their price target on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Evercore ISI raised their price target on Lincoln National from $33.00 to $35.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Wells Fargo & Company lowered their price target on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods raised their price target on Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.18.

Insider Buying and Selling

In related news, EVP Sean Woodroffe sold 55,127 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the transaction, the executive vice president now directly owns 198,255 shares in the company, valued at approximately $6,457,165.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Lincoln National Price Performance

Shares of Lincoln National stock traded up $0.40 during trading on Monday, hitting $32.31. 885,999 shares of the stock traded hands, compared to its average volume of 1,733,687. The firm’s fifty day moving average is $31.61 and its 200-day moving average is $29.32. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87. Lincoln National Co. has a 52 week low of $20.85 and a 52 week high of $33.33. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 4.43, a PEG ratio of 0.27 and a beta of 1.84.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.27. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.64 billion. Research analysts expect that Lincoln National Co. will post 5.94 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.80 annualized dividend and a yield of 5.57%. Lincoln National’s payout ratio is 24.62%.

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.