Elo Mutual Pension Insurance Co Increases Stock Position in Lincoln National Corporation $LNC

Elo Mutual Pension Insurance Co boosted its holdings in Lincoln National Corporation (NYSE:LNC) by 98.7% in the third quarter, Holdings Channel reports. The institutional investor owned 43,165 shares of the financial services provider’s stock after acquiring an additional 21,437 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Lincoln National were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LNC. Baird Financial Group Inc. bought a new position in shares of Lincoln National in the first quarter worth $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Lincoln National by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock worth $2,585,000 after purchasing an additional 16,991 shares in the last quarter. Empowered Funds LLC boosted its stake in Lincoln National by 316.9% in the 1st quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock worth $2,123,000 after purchasing an additional 44,936 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Lincoln National by 5.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock valued at $22,383,000 after buying an additional 29,421 shares in the last quarter. Finally, Focus Partners Wealth grew its holdings in Lincoln National by 39.1% during the 1st quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock valued at $701,000 after buying an additional 5,486 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Insider Buying and Selling at Lincoln National

In other news, EVP Sean Woodroffe sold 10,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $34.46, for a total value of $344,600.00. Following the completion of the sale, the executive vice president owned 206,159 shares of the company’s stock, valued at approximately $7,104,239.14. This represents a 4.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder National Life Insuranc Lincoln bought 2,300,098 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was acquired at an average price of $10.87 per share, for a total transaction of $25,002,065.26. Following the transaction, the insider owned 7,529,837 shares in the company, valued at $81,849,328.19. This trade represents a 43.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 16,569 shares of company stock valued at $627,484 over the last ninety days. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

LNC has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Lincoln National from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Mizuho began coverage on shares of Lincoln National in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $52.00 target price on the stock. National Bank Financial set a $45.00 price target on shares of Lincoln National in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln National in a report on Monday, December 29th. Finally, Piper Sandler lifted their price objective on Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.25.

Lincoln National Stock Up 2.9%

LNC opened at $35.07 on Thursday. The business’s fifty day simple moving average is $40.94 and its 200 day simple moving average is $41.25. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $46.82. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.59. The stock has a market cap of $6.67 billion, a PE ratio of 6.60, a P/E/G ratio of 1.52 and a beta of 1.30.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.35. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.85 billion. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 earnings per share. As a group, research analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.80 annualized dividend and a yield of 5.1%. Lincoln National’s dividend payout ratio is currently 33.90%.

About Lincoln National

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.