Bank of New York Mellon Corp Has $80.06 Million Position in Lincoln National Corporation $LNC

Bank of New York Mellon Corp lessened its stake in shares of Lincoln National Corporation (NYSE:LNC) by 5.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,797,919 shares of the financial services provider’s stock after selling 104,706 shares during the period. Bank of New York Mellon Corp’s holdings in Lincoln National were worth $80,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Insight Inv LLC lifted its position in shares of Lincoln National by 0.5% during the 4th quarter. Insight Inv LLC now owns 48,127 shares of the financial services provider’s stock valued at $2,143,000 after acquiring an additional 250 shares during the period. CWM LLC raised its stake in Lincoln National by 2.1% in the fourth quarter. CWM LLC now owns 12,397 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 255 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Lincoln National by 3.2% in the second quarter. Evergreen Capital Management LLC now owns 8,815 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 275 shares in the last quarter. Xponance Inc. lifted its position in Lincoln National by 3.3% during the third quarter. Xponance Inc. now owns 8,979 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 286 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Lincoln National by 21.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,736 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 309 shares during the period. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lincoln National

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho decreased their target price on shares of Lincoln National from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. JPMorgan Chase & Co. cut their price target on shares of Lincoln National from $42.00 to $40.00 and set an “underweight” rating for the company in a report on Thursday, May 7th. Keefe, Bruyette & Woods increased their price target on shares of Lincoln National from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. TD Cowen lowered 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. Finally, Barclays cut their target price on Lincoln National from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.00.

Lincoln National Trading Up 0.9%

LNC opened at $35.07 on Tuesday. The company has a market cap of $6.70 billion, a P/E ratio of 4.07, a PEG ratio of 2.23 and a beta of 1.17. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $35.54 and its 200-day moving average is $38.67. Lincoln National Corporation has a 1-year low of $31.69 and a 1-year high of $46.82.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts predict that Lincoln National Corporation will post 7.72 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Friday, July 10th. Lincoln National’s dividend payout ratio is presently 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.