Janney Montgomery Scott LLC Has $10.63 Million Position in Lincoln National Corporation $LNC

Janney Montgomery Scott LLC lifted its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 45.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 299,412 shares of the financial services provider’s stock after buying an additional 94,009 shares during the period. Janney Montgomery Scott LLC’s holdings in Lincoln National were worth $10,629,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Nicholas Wealth LLC. grew its position in Lincoln National by 11.2% during the first quarter. Nicholas Wealth LLC. now owns 29,091 shares of the financial services provider’s stock worth $1,033,000 after buying an additional 2,920 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Lincoln National by 7.8% in the first quarter. Pictet Asset Management Holding SA now owns 27,579 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 1,986 shares during the last quarter. Urban Wealth Management LLC raised its stake in Lincoln National by 23.1% in the first quarter. Urban Wealth Management LLC now owns 7,565 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 1,420 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Lincoln National in the 1st quarter worth approximately $2,662,000. Finally, Fifth Third Wealth Advisors LLC increased its holdings in shares of Lincoln National by 5.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,964 shares of the financial services provider’s stock worth $212,000 after buying an additional 299 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on LNC shares. Barclays cut their target price on shares of Lincoln National from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Morgan Stanley reduced their price objective on Lincoln National from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Keefe, Bruyette & Woods raised their price objective on Lincoln National from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Wells Fargo & Company boosted their target price on Lincoln National from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, National Bank Financial set a $40.00 price target on shares of Lincoln National in a research note on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $43.00.

Insider Buying and Selling at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of the business’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 completion of the transaction, the executive vice president directly owned 103,906 shares in the company, valued at $3,579,561.70. The trade was a 22.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.03% of the stock is owned by company insiders.

Lincoln National Price Performance

LNC stock opened at $36.95 on Friday. The firm’s 50-day moving average price is $36.08 and its two-hundred day moving average price is $38.02. Lincoln National Corporation has a 12-month low of $32.18 and a 12-month high of $46.82. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 4.29, a PEG ratio of 2.32 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.

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

Lincoln National Dividend Announcement

The business also recently declared 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. This represents a $1.80 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National’s payout ratio is currently 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.