Wealthstar Advisors LLC Acquires New Position in Lincoln National Corporation $LNC

Wealthstar Advisors LLC acquired a new stake in Lincoln National Corporation (NYSE:LNC) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 33,317 shares of the financial services provider’s stock, valued at approximately $1,183,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in shares of Lincoln National during the 3rd quarter valued at $29,000. V Square Quantitative Management LLC acquired a new position in shares of Lincoln National in the fourth quarter worth $31,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Lincoln National during the fourth quarter worth $32,000. Los Angeles Capital Management LLC purchased a new stake in shares of Lincoln National during the fourth quarter worth $34,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Lincoln National during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Craigt T. Beazer sold 30,000 shares of the business’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 completion of the sale, the executive vice president directly owned 103,906 shares in the company, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LNC. Barclays lowered their target price on Lincoln National from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley cut their price target on Lincoln National from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. National Bank Financial set a $40.00 price target on Lincoln National in a research note on Thursday, May 21st. TD Cowen dropped their price objective on Lincoln National from $43.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lincoln National from $42.00 to $40.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Lincoln National presently has an average rating of “Hold” and an average price target of $43.00.

Lincoln National Trading Down 0.1%

Lincoln National stock opened at $36.95 on Friday. Lincoln National Corporation has a one year low of $32.18 and a one year high of $46.82. The company’s fifty day moving average price is $36.08 and its two-hundred day moving average price is $38.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.25 and a quick ratio of 0.25. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 4.29, a PEG ratio of 2.37 and a beta of 1.17.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 earnings per share. On average, analysts forecast that Lincoln National Corporation will post 7.73 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National’s dividend payout ratio (DPR) is presently 20.88%.

About Lincoln National

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.