Salem Investment Counselors Inc. Has $1.77 Million Stock Holdings in Lincoln National Co. (NYSE:LNC)

Salem Investment Counselors Inc. trimmed its holdings in shares of Lincoln National Co. (NYSE:LNC) by 21.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,529 shares of the financial services provider’s stock after selling 15,300 shares during the period. Salem Investment Counselors Inc.’s holdings in Lincoln National were worth $1,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LNC. Financial Gravity Asset Management Inc. raised its position in Lincoln National by 3,930.8% during the third quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,022 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Lincoln National during the fourth quarter valued at $27,000. Transcendent Capital Group LLC acquired a new position in Lincoln National during the fourth quarter valued at $35,000. CVA Family Office LLC acquired a new position in Lincoln National during the fourth quarter valued at $37,000. Finally, FinTrust Capital Advisors LLC acquired a new position in Lincoln National during the fourth quarter valued at $38,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Stock Performance

LNC opened at $31.97 on Monday. The stock has a 50-day moving average of $30.17 and a 200-day moving average of $28.61. Lincoln National Co. has a 52-week low of $20.85 and a 52-week high of $33.33. The company has a market cap of $5.44 billion, a PE ratio of 4.37, a price-to-earnings-growth ratio of 0.25 and a beta of 1.85. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.26 and a current ratio of 0.26.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.10 by $0.27. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.64 billion. As a group, equities research analysts forecast that Lincoln National Co. will post 6 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.63%. Lincoln National’s dividend payout ratio (DPR) is presently 24.62%.

Analyst Ratings Changes

Several brokerages have weighed in on LNC. Jefferies Financial Group raised Lincoln National from a “hold” rating to a “buy” rating and upped their target price for the stock from $26.00 to $34.00 in a research report on Wednesday, May 22nd. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods upped their target price on Lincoln National from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Finally, Evercore ISI upped their target price on Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.90.

Insider Transactions at Lincoln National

In related news, EVP Sean Woodroffe sold 55,127 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total value of $1,795,486.39. Following the completion of the transaction, the executive vice president now directly owns 198,255 shares in the company, valued at $6,457,165.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% 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.