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

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Insight Inv LLC grew its holdings in shares of Lincoln National by 0.5% in the 4th quarter. Insight Inv LLC now owns 48,127 shares of the financial services provider’s stock valued at $2,143,000 after acquiring an additional 250 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Lincoln National by 6.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,110 shares of the financial services provider’s stock worth $185,000 after buying an additional 252 shares during the last quarter. CWM LLC raised its position in Lincoln National by 2.1% during the fourth quarter. CWM LLC now owns 12,397 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 255 shares in the last quarter. Evergreen Capital Management LLC raised its position in Lincoln National by 3.2% during the second quarter. Evergreen Capital Management LLC now owns 8,815 shares of the financial services provider’s stock worth $305,000 after acquiring an additional 275 shares in the last quarter. Finally, Xponance Inc. lifted its stake in Lincoln National by 3.3% in the third quarter. Xponance Inc. now owns 8,979 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 286 shares during the last quarter. 72.81% of the stock is owned by institutional investors.

Lincoln National Price Performance

Shares of LNC opened at $36.54 on Tuesday. The firm has a market capitalization of $6.99 billion, a PE ratio of 4.24, a PEG ratio of 2.36 and a beta of 1.17. The company’s 50-day moving average is $36.12 and its 200-day moving average is $38.21. Lincoln National Corporation has a fifty-two week low of $32.18 and a fifty-two week high of $46.82. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.25 and a quick ratio of 0.25.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. Lincoln National’s revenue was up 13.1% compared to the same quarter last year. Equities analysts forecast that Lincoln National Corporation will post 7.72 EPS for the current year.

Lincoln National Dividend Announcement

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

Insider Activity at Lincoln National

In other news, EVP Craigt T. Beazer sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total value of $1,033,500.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

LNC has been the subject of a number of analyst reports. TD Cowen decreased their price objective on shares of Lincoln National from $43.00 to $38.00 and set a “hold” rating for the company in a research report on Monday, March 9th. Barclays cut their target price on shares of Lincoln National from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Mizuho reduced their price target on Lincoln National from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Weiss Ratings downgraded Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Morgan Stanley dropped their price objective on Lincoln National from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Lincoln National presently has an average rating of “Hold” and an average target price of $43.00.

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.