Bank of New York Mellon Corp Has $63.15 Million Holdings in Lincoln National Corporation $LNC

Bank of New York Mellon Corp lessened its holdings in Lincoln National Corporation (NYSE:LNC) by 1.1% during the first quarter, HoldingsChannel.com reports. The firm owned 1,778,894 shares of the financial services provider’s stock after selling 19,025 shares during the period. Bank of New York Mellon Corp’s holdings in Lincoln National were worth $63,151,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LNC. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Lincoln National in the fourth quarter valued at about $4,742,000. Wealthstar Advisors LLC acquired a new position in Lincoln National during the first quarter valued at approximately $1,183,000. Oxbow Advisors LLC grew its stake in Lincoln National by 22.1% in the fourth quarter. Oxbow Advisors LLC now owns 231,208 shares of the financial services provider’s stock valued at $10,296,000 after purchasing an additional 41,817 shares in the last quarter. Hsbc Holdings PLC grew its stake in Lincoln National by 10.9% in the fourth quarter. Hsbc Holdings PLC now owns 1,360,587 shares of the financial services provider’s stock valued at $60,495,000 after purchasing an additional 133,388 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Lincoln National by 38.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 121,806 shares of the financial services provider’s stock worth $5,424,000 after purchasing an additional 33,808 shares during the last quarter. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Performance

Shares of NYSE LNC opened at $41.68 on Thursday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.65. Lincoln National Corporation has a 12 month low of $32.18 and a 12 month high of $46.82. The stock has a 50 day moving average of $37.15 and a 200-day moving average of $37.51. The company has a market capitalization of $7.97 billion, a P/E ratio of 4.84, a P/E/G ratio of 2.96 and a beta of 1.17.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the previous year, the firm earned $1.60 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts predict that Lincoln National Corporation will post 7.73 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. Lincoln National’s dividend payout ratio is presently 20.88%.

Analyst Ratings Changes

LNC has been the subject of several recent analyst reports. Morgan Stanley cut their price objective on Lincoln National from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Weiss Ratings downgraded shares of Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods upped their price target on shares of Lincoln National from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. National Bank Financial set a $51.00 price target on shares of Lincoln National in a research note on Thursday, July 9th. Finally, Mizuho lifted their price objective on shares of Lincoln National from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lincoln National has a consensus rating of “Hold” and an average price target of $45.21.

Insider Buying and Selling at Lincoln National

In other news, EVP Craigt T. Beazer sold 30,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the completion of the sale, the executive vice president owned 103,906 shares in the company, valued at approximately $3,579,561.70. This trade represents a 22.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.03% of the stock is owned by insiders.

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.