TCV Trust & Wealth Management Inc. Buys Shares of 6,890 Lincoln National Corporation (NYSE:LNC)

TCV Trust & Wealth Management Inc. bought a new stake in Lincoln National Corporation (NYSE:LNC) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 6,890 shares of the financial services provider’s stock, valued at approximately $247,000.

Several other large investors also recently bought and sold shares of the company. HighPoint Advisor Group LLC grew its stake in Lincoln National by 3.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 8,460 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 262 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Lincoln National by 30.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,500 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 350 shares in the last quarter. Arizona State Retirement System boosted its position in Lincoln National by 0.9% during the 4th quarter. Arizona State Retirement System now owns 49,394 shares of the financial services provider’s stock valued at $1,566,000 after purchasing an additional 436 shares during the period. Treasurer of the State of North Carolina boosted its position in Lincoln National by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 74,806 shares of the financial services provider’s stock valued at $2,372,000 after purchasing an additional 470 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in Lincoln National by 5.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,236 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 513 shares during the period. Institutional investors and hedge funds own 72.81% of the company’s stock.

Wall Street Analyst Weigh In

LNC has been the subject of a number of analyst reports. Barclays boosted their price target on Lincoln National from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Piper Sandler dropped their price objective on Lincoln National from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Morgan Stanley boosted their price objective on Lincoln National from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. UBS Group boosted their target price on Lincoln National from $32.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company cut their target price on Lincoln National from $36.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.82.

Insider Transactions at Lincoln National

In related news, EVP Sean Woodroffe sold 43,622 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total transaction of $1,429,929.16. Following the sale, the executive vice president now directly owns 154,102 shares in the company, valued at $5,051,463.56. This represents a 22.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Kroll sold 10,075 shares of Lincoln National stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the sale, the executive vice president now directly owns 48,743 shares of the company’s stock, valued at $1,613,393.30. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $34.57 on Friday. The business has a 50 day moving average price of $33.01 and a 200 day moving average price of $33.75. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $39.85. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 4.91, a PEG ratio of 0.45 and a beta of 1.40. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.81.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.54 by $0.06. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 EPS. Research analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.45 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.80 annualized dividend and a yield of 5.21%. Lincoln National’s dividend payout ratio (DPR) is 25.57%.

Lincoln National Company Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.