VCI Wealth Management LLC acquired a new stake in Lincoln National Corporation (NYSE:LNC – Free Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 39,759 shares of the financial services provider’s stock, valued at approximately $1,601,000.
Several other large investors also recently bought and sold shares of LNC. Arizona State Retirement System raised its stake in shares of Lincoln National by 0.5% during the second quarter. Arizona State Retirement System now owns 47,206 shares of the financial services provider’s stock valued at $1,669,000 after purchasing an additional 252 shares during the period. Apollon Wealth Management LLC boosted its stake in shares of Lincoln National by 4.5% in the third quarter. Apollon Wealth Management LLC now owns 6,326 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 270 shares during the period. Integrated Advisors Network LLC boosted its stake in shares of Lincoln National by 3.3% in the first quarter. Integrated Advisors Network LLC now owns 8,677 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 279 shares during the period. Sage Rhino Capital LLC boosted its stake in shares of Lincoln National by 3.9% in the third quarter. Sage Rhino Capital LLC now owns 8,510 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 316 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Lincoln National by 7.0% in the third quarter. IFP Advisors Inc now owns 5,362 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 349 shares during the period. Institutional investors and hedge funds own 72.81% of the company’s stock.
Analyst Ratings Changes
LNC has been the subject of a number of recent analyst reports. National Bank Financial set a $49.00 price target on shares of Lincoln National in a report on Wednesday, October 7th. Bank of America reiterated a “neutral” rating and issued a $47.00 price objective on shares of Lincoln National in a report on Thursday, July 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Lincoln National from $51.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Mizuho lowered their target price on Lincoln National from $53.00 to $49.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Finally, Jefferies Financial Group lifted their target price on Lincoln National from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.67.
Check Out Our Latest Stock Report on LNC
Lincoln National Stock Performance
Shares of LNC opened at $41.61 on Tuesday. The business’s 50 day moving average is $41.70 and its two-hundred day moving average is $39.03. Lincoln National Corporation has a 52-week low of $32.18 and a 52-week high of $47.67. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 3.61, a PEG ratio of 1.37 and a beta of 1.16. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.62.
Lincoln National Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. Lincoln National’s dividend payout ratio (DPR) is presently 15.60%.
Insider Activity
In other news, EVP Sean Woodroffe sold 11,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $45.28, for a total transaction of $498,080.00. Following the transaction, the executive vice president owned 119,947 shares of the company’s stock, valued at approximately $5,431,200.16. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary Kelly sold 15,007 shares of Lincoln National stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total value of $397,685.50. The SEC filing for this sale provides additional information. Company insiders own 1.03% of the company’s stock.
Lincoln National Company Profile
Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement products primarily in the United States. Its businesses are designed to help individuals, employers and institutions manage financial protection, income and long-term savings needs.
The company offers life insurance and annuities, including products intended to provide death-benefit protection, retirement income and asset accumulation. Through its group protection business, Lincoln also provides employer-sponsored disability, dental, vision and leave-management solutions, as well as related workplace benefits and services.
Lincoln traces its history to the founding of The Lincoln National Life Insurance Company in Fort Wayne, Indiana, in 1905.
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