Profund Advisors LLC bought a new stake in Lincoln National Corporation (NYSE:LNC – Free Report) in the fourth quarter, HoldingsChannel reports. The fund bought 17,399 shares of the financial services provider’s stock, valued at approximately $775,000.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Lincoln National by 6.3% in the third quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider’s stock valued at $802,717,000 after purchasing an additional 1,183,934 shares in the last quarter. Impax Asset Management Group plc bought a new position in Lincoln National in the third quarter valued at $1,052,000. Vest Financial LLC grew its position in Lincoln National by 8.9% in the third quarter. Vest Financial LLC now owns 384,803 shares of the financial services provider’s stock valued at $15,519,000 after purchasing an additional 31,441 shares in the last quarter. CSM Advisors LLC bought a new position in Lincoln National in the third quarter valued at $13,481,000. Finally, First Trust Advisors LP grew its position in Lincoln National by 5.0% in the third quarter. First Trust Advisors LP now owns 4,879,862 shares of the financial services provider’s stock valued at $196,805,000 after purchasing an additional 234,415 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.
Lincoln National Stock Performance
Shares of LNC opened at $35.99 on Friday. The firm has a 50-day moving average of $35.31 and a 200-day moving average of $39.15. 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 cap of $6.88 billion, a PE ratio of 4.18, a price-to-earnings-growth ratio of 2.27 and a beta of 1.20. Lincoln National Corporation has a one year low of $31.61 and a one year high of $46.82.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on LNC. National Bank Financial set a $40.00 price objective on shares of Lincoln National in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of Lincoln National from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. TD Cowen decreased their price objective on shares of Lincoln National from $43.00 to $38.00 and set a “hold” rating for the company in a research report on Monday, March 9th. Mizuho decreased their price objective on shares of Lincoln National from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Finally, Weiss Ratings downgraded shares of Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $43.00.
Get Our Latest Research Report on LNC
Insider Transactions at Lincoln National
In other news, EVP Sean Woodroffe sold 8,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $32.74, for a total transaction of $261,920.00. Following the completion of the sale, the executive vice president owned 198,159 shares in the company, valued at approximately $6,487,725.66. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder National Life Insuranc Lincoln bought 2,254,486 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were bought at an average price of $11.09 per share, with a total value of $25,002,249.74. Following the purchase, the insider owned 9,784,322 shares in the company, valued at $108,508,130.98. The trade was a 29.94% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.03% of the company’s stock.
Lincoln National 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.
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Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Corporation (NYSE:LNC – Free Report).
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