Miller Value Partners LLC Has $22.48 Million Stock Position in Lincoln National Corporation $LNC

Miller Value Partners LLC trimmed its holdings in Lincoln National Corporation (NYSE:LNC) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 504,761 shares of the financial services provider’s stock after selling 15,915 shares during the quarter. Lincoln National makes up approximately 7.9% of Miller Value Partners LLC’s holdings, making the stock its 2nd biggest position. Miller Value Partners LLC owned 0.27% of Lincoln National worth $22,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LNC. JPL Wealth Management LLC bought a new position in Lincoln National in the 3rd quarter worth approximately $29,000. V Square Quantitative Management LLC bought a new position in Lincoln National in the 4th quarter worth approximately $31,000. Transamerica Financial Advisors LLC bought a new position in Lincoln National in the 4th quarter worth approximately $32,000. Los Angeles Capital Management LLC bought a new position in Lincoln National in the 4th quarter worth approximately $34,000. Finally, Laurel Wealth Advisors LLC bought a new position in Lincoln National in the 4th quarter worth approximately $38,000. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Stock Down 1.6%

Shares of LNC opened at $37.37 on Thursday. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 4.33, a price-to-earnings-growth ratio of 2.44 and a beta of 1.17. Lincoln National Corporation has a 1 year low of $31.69 and a 1 year high of $46.82. The business’s 50 day simple moving average is $35.83 and its 200-day simple moving average is $38.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.25 and a quick ratio of 0.25.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the firm posted $1.60 EPS. Lincoln National’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts expect that Lincoln National Corporation will post 7.72 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.8%. The ex-dividend date is Friday, July 10th. Lincoln National’s dividend payout ratio is presently 20.88%.

Insiders Place Their Bets

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 transaction of $1,033,500.00. Following the sale, 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

LNC has been the subject of several recent analyst reports. Weiss Ratings downgraded Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. UBS Group reaffirmed a “neutral” rating and set a $39.00 price objective on shares of Lincoln National in a report on Thursday, May 14th. Mizuho decreased their price objective on Lincoln National from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. JPMorgan Chase & Co. decreased their price objective on Lincoln National from $42.00 to $40.00 and set an “underweight” rating on the stock in a report on Thursday, May 7th. Finally, Wells Fargo & Company upped their price objective on Lincoln National from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.00.

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.