Access Investment Management LLC Takes $6.80 Million Position in Lincoln National Corporation $LNC

Access Investment Management LLC acquired a new stake in Lincoln National Corporation (NYSE:LNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 196,500 shares of the financial services provider’s stock, valued at approximately $6,799,000. Lincoln National comprises approximately 1.9% of Access Investment Management LLC’s portfolio, making the stock its 17th largest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. DAVENPORT & Co LLC lifted its holdings in Lincoln National by 3.3% in the 1st quarter. DAVENPORT & Co LLC now owns 28,204 shares of the financial services provider’s stock valued at $1,013,000 after purchasing an additional 904 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Lincoln National by 43.9% during the first quarter. Teacher Retirement System of Texas now owns 59,164 shares of the financial services provider’s stock worth $2,125,000 after acquiring an additional 18,050 shares during the last quarter. Strategic Blueprint LLC grew its position in shares of Lincoln National by 11.6% in the first quarter. Strategic Blueprint LLC now owns 9,968 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 1,033 shares during the period. Envestnet Asset Management Inc. boosted its stake in Lincoln National by 17.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 116,594 shares of the financial services provider’s stock worth $4,187,000 after buying an additional 17,721 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in Lincoln National during the first quarter worth approximately $5,531,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group raised their price objective on Lincoln National from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday. National Bankshares set a $53.00 price objective on shares of Lincoln National in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lincoln National in a report on Wednesday, October 8th. Piper Sandler restated a “neutral” rating and set a $42.00 target price on shares of Lincoln National in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods increased their price target on Lincoln National from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Lincoln National presently has a consensus rating of “Reduce” and a consensus price target of $43.55.

Lincoln National Trading Up 3.3%

Shares of LNC stock opened at $42.02 on Monday. The stock has a fifty day moving average of $40.75 and a two-hundred day moving average of $36.73. The firm has a market capitalization of $7.97 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $43.66.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.20. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm posted $2.06 earnings per share. As a group, research analysts expect that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National’s dividend payout ratio is presently 16.16%.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 5,000 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the completion of the transaction, the executive vice president directly owned 123,815 shares in the company, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.51% of the stock is currently owned by company insiders.

About Lincoln National

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.