12,234 Shares in Lincoln National Corporation $LNC Bought by State of Wyoming

State of Wyoming acquired a new position in Lincoln National Corporation (NYSE:LNC) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,234 shares of the financial services provider’s stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LNC. JPL Wealth Management LLC acquired a new stake in shares of Lincoln National during the third quarter valued at about $29,000. V Square Quantitative Management LLC acquired a new position in shares of Lincoln National in the fourth quarter worth about $31,000. Transamerica Financial Advisors LLC purchased a new position in Lincoln National in the fourth quarter valued at about $32,000. NBT Bank N A NY boosted its holdings in Lincoln National by 2,051.1% in the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 923 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Lincoln National during the 4th quarter valued at approximately $34,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Trading Up 1.2%

Shares of NYSE LNC opened at $41.32 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $37.42 and its two-hundred day moving average price is $37.51. Lincoln National Corporation has a 52-week low of $32.18 and a 52-week high of $46.82. The stock has a market capitalization of $7.90 billion, a P/E ratio of 4.79, a PEG ratio of 2.92 and a beta of 1.17.

Lincoln National (NYSE:LNC) last issued 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 return on equity of 18.07% and a net margin of 9.17%.The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter last year, the firm earned $1.60 EPS. The business’s revenue was up 13.1% on a year-over-year basis. On average, analysts anticipate that Lincoln National Corporation will post 7.73 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National’s payout ratio is currently 20.88%.

Insiders Place Their Bets

In other Lincoln National news, EVP Craigt T. Beazer sold 30,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the completion of the sale, the executive vice president owned 103,906 shares in the company, valued at $3,579,561.70. The trade was a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on LNC. 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 report on Thursday, May 21st. Wells Fargo & Company raised their price target on shares of Lincoln National from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. UBS Group lifted their price target on shares of Lincoln National from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Bank of America cut their price target on shares of Lincoln National from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Finally, Mizuho increased their price objective on shares of Lincoln National from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.21.

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.