11,069 Shares in Lincoln National Co. (NYSE:LNC) Purchased by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC purchased a new stake in Lincoln National Co. (NYSE:LNC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,069 shares of the financial services provider’s stock, valued at approximately $353,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in Lincoln National by 32.7% during the third quarter. Envestnet Asset Management Inc. now owns 217,546 shares of the financial services provider’s stock worth $5,371,000 after purchasing an additional 53,645 shares during the last quarter. FMR LLC increased its holdings in shares of Lincoln National by 0.8% during the 3rd quarter. FMR LLC now owns 139,087 shares of the financial services provider’s stock worth $3,434,000 after buying an additional 1,132 shares during the last quarter. Mariner LLC raised its position in shares of Lincoln National by 23.2% in the 3rd quarter. Mariner LLC now owns 27,640 shares of the financial services provider’s stock worth $682,000 after buying an additional 5,200 shares during the period. Trexquant Investment LP boosted its holdings in Lincoln National by 257.0% in the third quarter. Trexquant Investment LP now owns 28,875 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 20,787 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in Lincoln National during the third quarter valued at about $444,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Stock Down 1.1 %

Shares of NYSE:LNC traded down $0.34 during trading on Friday, hitting $31.15. The company’s stock had a trading volume of 31,480 shares, compared to its average volume of 1,764,144. Lincoln National Co. has a fifty-two week low of $20.85 and a fifty-two week high of $33.33. The stock’s 50-day moving average price is $30.84 and its two-hundred day moving average price is $28.94. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market capitalization of $5.30 billion, a PE ratio of 4.31, a PEG ratio of 0.25 and a beta of 1.84.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.10 by $0.27. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. As a group, sell-side analysts expect that Lincoln National Co. will post 5.98 EPS for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.45 dividend. 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 5.78%. Lincoln National’s dividend payout ratio (DPR) is presently 24.62%.

Insider Transactions at Lincoln National

In related news, EVP Sean Woodroffe sold 55,127 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 198,255 shares of the company’s stock, valued at $6,457,165.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LNC shares. Piper Sandler lifted their price objective on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Jefferies Financial Group raised their target price on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. upped their price target on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Evercore ISI boosted their price objective on Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.20.

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.