Lincoln National Co. (NYSE:LNC) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its position in Lincoln National Co. (NYSE:LNC) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,750 shares of the financial services provider’s stock after buying an additional 640 shares during the period. Concurrent Investment Advisors LLC’s holdings in Lincoln National were worth $490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LNC. Federated Hermes Inc. grew its stake in Lincoln National by 307.5% in the 4th quarter. Federated Hermes Inc. now owns 6,924 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 5,225 shares during the period. Savant Capital LLC grew its position in shares of Lincoln National by 13.9% in the fourth quarter. Savant Capital LLC now owns 9,412 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 1,148 shares during the period. Victory Capital Management Inc. increased its stake in Lincoln National by 20.3% in the fourth quarter. Victory Capital Management Inc. now owns 699,620 shares of the financial services provider’s stock valued at $18,869,000 after purchasing an additional 117,983 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in Lincoln National by 62.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 14,891 shares of the financial services provider’s stock worth $402,000 after buying an additional 5,710 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Lincoln National by 0.8% during the 4th quarter. Amalgamated Bank now owns 76,960 shares of the financial services provider’s stock worth $2,076,000 after acquiring an additional 635 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Price Performance

LNC stock opened at $32.10 on Tuesday. The firm has a market cap of $5.46 billion, a P/E ratio of 4.39, a price-to-earnings-growth ratio of 0.33 and a beta of 1.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Co. has a 1 year low of $20.85 and a 1 year high of $36.46. The stock has a 50-day simple moving average of $31.46 and a 200-day simple moving average of $30.17.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the company earned $2.02 earnings per share. On average, equities analysts predict that Lincoln National Co. will post 5.74 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

Analyst Upgrades and Downgrades

LNC has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Jefferies Financial Group lifted their price target on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company dropped their price objective on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Piper Sandler lifted their target price on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. boosted their price target on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.40.

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.