First Trust Advisors LP Cuts Position in Lincoln National Corporation $LNC

First Trust Advisors LP decreased its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 55.5% in the first quarter, Holdings Channel.com reports. The firm owned 2,128,355 shares of the financial services provider’s stock after selling 2,656,015 shares during the period. First Trust Advisors LP’s holdings in Lincoln National were worth $75,557,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LNC. Baird Financial Group Inc. bought a new position in Lincoln National during the 1st quarter valued at approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Lincoln National by 30.9% in 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 grew its position in Lincoln National by 316.9% during the 1st quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock valued at $2,123,000 after purchasing an additional 44,936 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 purchasing an additional 29,421 shares during the last quarter. Finally, Focus Partners Wealth increased its stake 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 purchasing an additional 5,486 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Lincoln National from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Weiss Ratings cut shares of Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wells Fargo & Company raised their price target on shares of Lincoln National from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. National Bank Financial set a $51.00 price objective on shares of Lincoln National in a report on Thursday, July 9th. Finally, Bank of America lowered their price objective on Lincoln National from $41.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Lincoln National currently has a consensus rating of “Hold” and a consensus target price of $45.21.

Insider Transactions at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $34.45, for a total value of $1,033,500.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Lincoln National Price Performance

LNC opened at $41.32 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market capitalization of $7.90 billion, a P/E ratio of 4.79, a P/E/G ratio of 2.92 and a beta of 1.17. The company’s 50-day simple moving average is $37.42 and its two-hundred day simple moving average is $37.51. Lincoln National Corporation has a 52-week low of $32.18 and a 52-week high of $46.82.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the firm posted $1.60 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, 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. Investors of record on Friday, July 10th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.4%. Lincoln National’s dividend payout ratio is 20.88%.

Lincoln National Company 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.