Steadtrust LLC Makes New Investment in Lincoln National Corporation $LNC

Steadtrust LLC bought a new stake in Lincoln National Corporation (NYSE:LNC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,500 shares of the financial services provider’s stock, valued at approximately $625,000.

Several other hedge funds have also made changes to their positions in the company. Phillips Financial Management LLC raised its position in shares of Lincoln National by 1.2% during the 3rd quarter. Phillips Financial Management LLC now owns 21,857 shares of the financial services provider’s stock valued at $881,000 after buying an additional 254 shares during the period. Evergreen Capital Management LLC lifted its holdings in Lincoln National by 3.2% in the second quarter. Evergreen Capital Management LLC now owns 8,815 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 275 shares during the last quarter. Xponance Inc. grew its position in Lincoln National by 3.3% in the third quarter. Xponance Inc. now owns 8,979 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 286 shares during the period. Signaturefd LLC increased its stake in Lincoln National by 1.7% during the third quarter. Signaturefd LLC now owns 17,927 shares of the financial services provider’s stock worth $723,000 after acquiring an additional 297 shares during the last quarter. Finally, Focus Financial Network Inc. increased its stake in Lincoln National by 4.0% during the third quarter. Focus Financial Network Inc. now owns 7,821 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Insider Transactions at Lincoln National

In other news, EVP Sean Woodroffe sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $32.74, for a total value of $261,920.00. Following the completion of the transaction, the executive vice president owned 198,159 shares of the company’s stock, valued at approximately $6,487,725.66. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder National Life Insuranc Lincoln acquired 2,254,486 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average price of $11.09 per share, with a total value of $25,002,249.74. Following the acquisition, the insider directly owned 9,784,322 shares of the company’s stock, valued at approximately $108,508,130.98. This represents a 29.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 21,050 shares of company stock valued at $734,041. 0.51% of the stock is currently owned by corporate insiders.

Lincoln National Trading Down 2.1%

LNC opened at $33.80 on Thursday. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $46.82. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $38.61 and a 200-day simple moving average of $40.69. The firm has a market cap of $6.43 billion, a P/E ratio of 6.37, a P/E/G ratio of 1.55 and a beta of 1.30.

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

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, April 10th. Lincoln National’s dividend payout ratio is currently 33.90%.

Analyst Ratings Changes

Several equities analysts have recently commented on LNC shares. National Bank Financial set a $45.00 price target on Lincoln National in a research note on Thursday, January 8th. Jefferies Financial Group raised their price objective on Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Zacks Research lowered shares of Lincoln National from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. Barclays decreased their target price on shares of Lincoln National from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 11th. Finally, 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 for the company. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.46.

Lincoln National Company 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.