Convergence Investment Partners LLC Purchases New Position in Lincoln National Corporation $LNC

Convergence Investment Partners LLC acquired a new position in shares of Lincoln National Corporation (NYSE:LNC) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 26,478 shares of the financial services provider’s stock, valued at approximately $1,179,000.

Several other large investors also recently bought and sold shares of LNC. Baird Financial Group Inc. purchased a new stake in Lincoln National during the 1st quarter worth approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Lincoln National by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock valued at $2,585,000 after purchasing an additional 16,991 shares in the last quarter. Empowered Funds LLC grew its position in shares of Lincoln National by 316.9% in the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock valued at $2,123,000 after purchasing an additional 44,936 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Lincoln National by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock valued at $22,383,000 after purchasing an additional 29,421 shares in the last quarter. Finally, Focus Partners Wealth grew its position in shares of Lincoln National by 39.1% in the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 5,486 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LNC shares. Barclays dropped their price target on Lincoln National from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. UBS Group restated a “neutral” rating and issued a $39.00 price target on shares of Lincoln National in a research report on Thursday. Bank of America dropped their price target on Lincoln National from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. National Bank Financial set a $48.00 price target on Lincoln National in a research report on Monday, April 13th. Finally, Weiss Ratings lowered Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.00.

Lincoln National Stock Down 0.5%

Shares of NYSE LNC opened at $34.39 on Friday. The stock has a market cap of $6.57 billion, a P/E ratio of 3.99, a PEG ratio of 2.20 and a beta of 1.20. The company has a current ratio of 0.25, a quick ratio of 0.27 and a debt-to-equity ratio of 0.65. Lincoln National Corporation has a 12-month low of $31.61 and a 12-month high of $46.82. The business’s fifty day simple moving average is $35.24 and its 200-day simple moving average is $39.32.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $4.87 billion for 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 company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $1.60 earnings per share. As a group, equities analysts predict that Lincoln National Corporation will post 7.73 EPS for the current fiscal year.

Insider Activity at Lincoln National

In related news, EVP James Waltman Reid sold 3,050 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total value of $127,520.50. Following the transaction, the executive vice president owned 118,567 shares of the company’s stock, valued at $4,957,286.27. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sean Woodroffe sold 10,000 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $34.46, for a total value of $344,600.00. Following the completion of the transaction, the executive vice president directly owned 206,159 shares in the company, valued at $7,104,239.14. This trade represents a 4.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,050 shares of company stock valued at $734,041 over the last quarter. 0.51% of the stock is owned by insiders.

Lincoln National Company 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.