Studio Investment Management LLC Buys New Stake in Lincoln National Corporation $LNC

Studio Investment Management LLC purchased a new stake in Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent filing with the SEC. The fund purchased 23,239 shares of the financial services provider’s stock, valued at approximately $821,000.

Other hedge funds have also bought and sold shares of the company. Transamerica Financial Advisors LLC purchased a new position in shares of Lincoln National during the fourth quarter valued at about $32,000. JPL Wealth Management LLC purchased a new stake in shares of Lincoln National in the third quarter worth about $29,000. Trust Co. of Vermont bought a new position in Lincoln National during the second quarter valued at approximately $28,000. Los Angeles Capital Management LLC bought a new position in Lincoln National during the fourth quarter valued at approximately $34,000. Finally, NBT Bank N A NY grew its holdings in Lincoln National by 2,051.1% during the 1st quarter. NBT Bank N A NY now owns 968 shares of the financial services provider’s stock valued at $34,000 after buying an additional 923 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on LNC shares. Barclays raised Lincoln National from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $42.00 to $45.00 in a report on Monday, July 6th. Wells Fargo & Company raised their target price on shares of Lincoln National from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Lincoln National from $40.00 to $42.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Mizuho increased their price objective on shares of Lincoln National from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Morgan Stanley lifted their price objective on shares of Lincoln National from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Lincoln National currently has a consensus rating of “Hold” and an average target price of $47.07.

Lincoln National Stock Performance

NYSE LNC opened at $45.42 on Monday. The business’s 50 day moving average price is $42.41 and its 200-day moving average price is $38.08. Lincoln National Corporation has a fifty-two week low of $32.18 and a fifty-two week high of $47.67. The company has a market cap of $8.70 billion, a P/E ratio of 3.94, a P/E/G ratio of 1.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.27 and a current ratio of 0.27.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.28. Lincoln National had a return on equity of 17.35% and a net margin of 12.21%.The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the company earned $2.36 earnings per share. Lincoln National’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts predict that Lincoln National Corporation will post 7.97 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, October 9th. Lincoln National’s dividend payout ratio (DPR) is 15.60%.

Insider Transactions at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $45.28, for a total value of $498,080.00. Following the completion of the sale, the executive vice president owned 119,947 shares of the company’s stock, valued at $5,431,200.16. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary C. Kelly sold 15,007 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $26.50, for a total value of $397,685.50. Additional details regarding this sale are available in the official SEC disclosure. 1.03% of the stock is currently owned by insiders.

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.