Edgestream Partners L.P. Buys 79,598 Shares of Lincoln National Co. (NYSE:LNC)

Edgestream Partners L.P. boosted its stake in Lincoln National Co. (NYSE:LNC) by 139.2% in the second quarter, Holdings Channel reports. The firm owned 136,781 shares of the financial services provider’s stock after purchasing an additional 79,598 shares during the quarter. Edgestream Partners L.P.’s holdings in Lincoln National were worth $4,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LNC. Massachusetts Financial Services Co. MA acquired a new position in shares of Lincoln National in the 2nd quarter valued at approximately $142,148,000. Norges Bank bought a new stake in Lincoln National during the fourth quarter worth $54,026,000. Principal Financial Group Inc. increased its stake in shares of Lincoln National by 59.2% in the 2nd quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after purchasing an additional 1,147,896 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Lincoln National by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 21,688,670 shares of the financial services provider’s stock worth $584,943,000 after buying an additional 1,094,789 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Lincoln National during the 1st quarter worth $28,649,000. Institutional investors own 72.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LNC shares. Morgan Stanley decreased their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Piper Sandler upped their price objective on shares of Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Jefferies Financial Group raised their target price on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. upped their price target on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Finally, Bank of America cut their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.64.

Lincoln National Stock Up 1.1 %

Shares of NYSE:LNC opened at $29.97 on Wednesday. The business has a fifty day simple moving average of $31.18 and a 200 day simple moving average of $30.35. Lincoln National Co. has a 12-month low of $20.85 and a 12-month high of $36.46. The firm has a market cap of $5.10 billion, a P/E ratio of 4.10, a P/E/G ratio of 0.29 and a beta of 1.81. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same period in the previous year, the firm earned $2.02 earnings per share. Analysts predict that Lincoln National Co. will post 5.74 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s dividend payout ratio (DPR) is presently 24.62%.

Lincoln National Profile

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.