Allspring Global Investments Holdings LLC Has $19.11 Million Holdings in Lincoln National Corporation $LNC

Allspring Global Investments Holdings LLC raised its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 3.4% during the 1st quarter, HoldingsChannel reports. The fund owned 542,220 shares of the financial services provider’s stock after purchasing an additional 17,577 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Lincoln National were worth $19,108,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Baird Financial Group Inc. acquired a new stake in shares of Lincoln National during the first quarter worth approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $2,585,000 after buying an additional 16,991 shares during the period. Empowered Funds LLC increased 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 valued at $2,123,000 after buying an additional 44,936 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Lincoln National by 5.0% in 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 worth $22,383,000 after buying an additional 29,421 shares in the last quarter. Finally, Focus Partners Wealth lifted its position in Lincoln National by 39.1% in the 1st quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock worth $701,000 after buying an additional 5,486 shares in the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LNC shares. Morgan Stanley lowered their price target on shares of Lincoln National from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Bank of America cut their price objective on Lincoln National from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. UBS Group boosted their target price on Lincoln National from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Wells Fargo & Company upped their target price on Lincoln National from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods raised their price target on Lincoln National from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Six investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $44.93.

Insider Transactions 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 shares were sold at an average price of $34.45, for a total value of $1,033,500.00. Following the transaction, the executive vice president directly 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 is available through this link. Insiders own 1.03% of the company’s stock.

Lincoln National Stock Performance

LNC opened at $41.81 on Wednesday. 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 company has a market cap of $7.99 billion, a PE ratio of 4.85, a price-to-earnings-growth ratio of 2.94 and a beta of 1.17. The stock has a 50-day moving average of $37.00 and a 200-day moving average of $37.53. Lincoln National Corporation has a 52-week low of $32.18 and a 52-week high of $46.82.

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 the consensus estimate of $1.58 by $0.08. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period in the previous year, the company earned $1.60 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts forecast that Lincoln National Corporation will post 7.73 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

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

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.