Lincoln National Corporation $LNC Holdings Trimmed by Miller Value Partners LLC

Miller Value Partners LLC decreased its holdings in Lincoln National Corporation (NYSE:LNC) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 504,761 shares of the financial services provider’s stock after selling 15,915 shares during the quarter. Lincoln National makes up about 7.9% of Miller Value Partners LLC’s holdings, making the stock its 2nd biggest holding. Miller Value Partners LLC’s holdings in Lincoln National were worth $22,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LNC. JPL Wealth Management LLC purchased a new stake in Lincoln National in the third quarter worth $29,000. V Square Quantitative Management LLC purchased a new stake in Lincoln National in the fourth quarter worth $31,000. Transamerica Financial Advisors LLC purchased a new stake in Lincoln National in the fourth quarter worth $32,000. Los Angeles Capital Management LLC purchased a new stake in Lincoln National in the fourth quarter worth $34,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Lincoln National in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Craigt T. Beazer sold 30,000 shares of the firm’s stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.03% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on LNC shares. Weiss Ratings lowered Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Bank of America dropped their price target on Lincoln National from $41.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. TD Cowen dropped their price target on Lincoln National from $43.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. National Bank Financial set a $40.00 price target on Lincoln National in a research report on Thursday, May 21st. Finally, Keefe, Bruyette & Woods increased their price target on Lincoln National from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Lincoln National currently has an average rating of “Hold” and an average price target of $43.00.

Lincoln National Price Performance

LNC opened at $37.37 on Thursday. Lincoln National Corporation has a 12-month low of $31.69 and a 12-month high of $46.82. 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 business’s fifty day simple moving average is $35.83 and its 200-day simple moving average is $38.50. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 4.33, a PEG ratio of 2.44 and a beta of 1.17.

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

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.8%. Lincoln National’s dividend payout ratio (DPR) is presently 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.