Patriot Financial Group Insurance Agency LLC Has $1.41 Million Holdings in Lincoln National Corporation $LNC

Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 130.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,588 shares of the financial services provider’s stock after acquiring an additional 22,422 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Lincoln National were worth $1,405,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of LNC. Baird Financial Group Inc. bought a new position in shares of Lincoln National during the first quarter worth approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Lincoln National by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock worth $2,585,000 after buying an additional 16,991 shares in the last quarter. Empowered Funds LLC grew its position in Lincoln National by 316.9% during the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock worth $2,123,000 after buying an additional 44,936 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Lincoln National by 5.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock worth $22,383,000 after acquiring an additional 29,421 shares during the period. Finally, Focus Partners Wealth raised its holdings in Lincoln National by 39.1% in the 1st quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 5,486 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LNC shares. National Bank Financial set a $40.00 target price on Lincoln National in a research report on Thursday, May 21st. Bank of America dropped their price target on Lincoln National from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings cut shares of Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced their price objective on shares of Lincoln National from $42.00 to $40.00 and set an “underweight” rating on the stock in a research note on Thursday, May 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Lincoln National from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lincoln National presently has an average rating of “Hold” and an average target price of $43.00.

Insider Buying and Selling

In other news, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.45, for a total value of $1,033,500.00. Following the completion of the transaction, the executive vice president owned 103,906 shares of the company’s stock, valued at approximately $3,579,561.70. This represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.03% of the company’s stock.

Lincoln National Trading Down 0.5%

Shares of LNC stock opened at $36.54 on Tuesday. Lincoln National Corporation has a fifty-two week low of $32.18 and a fifty-two week high of $46.82. The stock’s fifty day moving average price is $36.12 and its two-hundred day moving average price is $38.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25. The company has a market cap of $6.99 billion, a PE ratio of 4.24, a P/E/G ratio of 2.36 and a beta of 1.17.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the firm earned $1.60 EPS. Lincoln National’s revenue was up 13.1% on a year-over-year basis. Equities analysts predict that Lincoln National Corporation will post 7.72 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, July 10th. Lincoln National’s payout ratio is currently 20.88%.

Lincoln National 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.