Steward Partners Investment Advisory LLC grew its holdings in Lincoln National Co. (NYSE:LNC – Get Rating) by 42.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,090 shares of the financial services provider’s stock after purchasing an additional 326 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Lincoln National were worth $71,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Johnson Financial Group Inc. purchased a new stake in shares of Lincoln National in the 4th quarter valued at $28,000. Private Capital Group LLC increased its stake in shares of Lincoln National by 48.2% in the 1st quarter. Private Capital Group LLC now owns 483 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 157 shares in the last quarter. Hanson & Doremus Investment Management grew its position in Lincoln National by 735.6% during the 1st quarter. Hanson & Doremus Investment Management now owns 493 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 434 shares during the last quarter. Glassman Wealth Services grew its position in Lincoln National by 136.6% during the 4th quarter. Glassman Wealth Services now owns 504 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 291 shares during the last quarter. Finally, Confluence Wealth Services Inc. purchased a new stake in Lincoln National during the 4th quarter valued at about $36,000. Institutional investors own 86.40% of the company’s stock.
Lincoln National Trading Up 3.1 %
Shares of LNC stock opened at $51.79 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.21 and a quick ratio of 0.21. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 0.31 and a beta of 1.89. The stock has a 50 day simple moving average of $50.35 and a 200-day simple moving average of $59.72. Lincoln National Co. has a 1-year low of $44.89 and a 1-year high of $77.57.
Lincoln National Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.48%. The ex-dividend date was Friday, July 8th. Lincoln National’s dividend payout ratio is currently 26.47%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Lincoln National from $80.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Wolfe Research reaffirmed a “peer perform” rating on shares of Lincoln National in a research note on Thursday, June 23rd. The Goldman Sachs Group lowered their target price on shares of Lincoln National from $78.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Evercore ISI decreased their price objective on Lincoln National from $78.00 to $66.00 and set an “in-line” rating for the company in a report on Wednesday, July 6th. Finally, Piper Sandler reduced their target price on shares of Lincoln National from $70.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $64.73.
Lincoln National Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.
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