SummitTX Capital L.P. Has $2.95 Million Stock Holdings in Lincoln National Corporation $LNC

SummitTX Capital L.P. raised its stake in Lincoln National Corporation (NYSE:LNC) by 49.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,181 shares of the financial services provider’s stock after purchasing an additional 27,376 shares during the period. SummitTX Capital L.P.’s holdings in Lincoln National were worth $2,953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LNC. Insight Inv LLC increased its position in Lincoln National by 0.5% in the 4th quarter. Insight Inv LLC now owns 48,127 shares of the financial services provider’s stock valued at $2,143,000 after buying an additional 250 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Lincoln National by 6.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,110 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 252 shares in the last quarter. CWM LLC boosted its holdings in Lincoln National by 2.1% in the fourth quarter. CWM LLC now owns 12,397 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 255 shares in the last quarter. Evergreen Capital Management LLC grew 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 acquiring an additional 275 shares during the period. Finally, Integrated Advisors Network LLC increased its holdings in shares of Lincoln National by 3.3% during the first quarter. Integrated Advisors Network LLC now owns 8,677 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 279 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LNC shares. 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. Morgan Stanley reduced their price target on shares of Lincoln National from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. UBS Group boosted their price target on shares of Lincoln National from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. National Bank Financial set a $51.00 price objective on shares of Lincoln National in a report on Thursday, July 9th. Finally, Jefferies Financial Group raised their price objective on shares of Lincoln National from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.21.

Lincoln National Stock Performance

Shares of LNC opened at $42.92 on Wednesday. The firm has a market capitalization of $8.21 billion, a P/E ratio of 4.98, a P/E/G ratio of 2.91 and a beta of 1.17. Lincoln National Corporation has a 52 week low of $32.18 and a 52 week high of $46.82. The stock has a 50 day moving average price of $37.72 and a two-hundred day moving average price of $37.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25.

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

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National’s dividend payout ratio is presently 20.88%.

Insiders Place Their Bets

In other Lincoln National 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.03% of the company’s stock.

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.