Jessup Wealth Management Inc Cuts Stock Position in Lincoln National Corporation $LNC

Jessup Wealth Management Inc lessened its holdings in Lincoln National Corporation (NYSE:LNC) by 11.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,036 shares of the financial services provider’s stock after selling 16,982 shares during the quarter. Lincoln National accounts for 1.9% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 16th largest position. Jessup Wealth Management Inc’s holdings in Lincoln National were worth $4,741,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in Lincoln National by 34.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 204,010 shares of the financial services provider’s stock worth $7,346,000 after acquiring an additional 51,823 shares during the last quarter. DMC Group LLC raised its stake in shares of Lincoln National by 47.1% during the 1st quarter. DMC Group LLC now owns 25,749 shares of the financial services provider’s stock valued at $925,000 after purchasing an additional 8,250 shares during the period. Atlas Capital Advisors Inc. lifted its holdings in Lincoln National by 4,083.7% during the 1st quarter. Atlas Capital Advisors Inc. now owns 19,705 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 19,234 shares in the last quarter. Northern Trust Corp boosted its stake in Lincoln National by 6.1% in the 1st quarter. Northern Trust Corp now owns 2,566,274 shares of the financial services provider’s stock worth $92,155,000 after purchasing an additional 146,667 shares during the period. Finally, Blueshift Asset Management LLC bought a new stake in shares of Lincoln National during the first quarter valued at about $449,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LNC. Cfra Research raised shares of Lincoln National to a “hold” rating in a report on Wednesday, August 6th. Evercore ISI boosted their target price on Lincoln National from $45.00 to $46.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Keefe, Bruyette & Woods lifted their price target on Lincoln National from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Piper Sandler restated a “neutral” rating and issued a $42.00 price objective on shares of Lincoln National in a research report on Tuesday, October 7th. Finally, Wolfe Research raised shares of Lincoln National to a “strong sell” rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Lincoln National has a consensus rating of “Reduce” and an average target price of $43.55.

Lincoln National Stock Up 3.3%

Shares of NYSE:LNC opened at $42.02 on Friday. The firm has a market capitalization of $7.97 billion, a P/E ratio of 7.33, a P/E/G ratio of 0.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a 50 day moving average price of $40.75 and a 200-day moving average price of $36.68. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $43.66.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.20. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the firm earned $2.06 earnings per share. As a group, equities research analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Lincoln National’s payout ratio is presently 31.41%.

Insider Buying and Selling

In other news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the sale, the executive vice president directly owned 123,815 shares of the company’s stock, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.51% of the company’s stock.

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.