Steadtrust LLC Buys New Shares in Lincoln National Corporation $LNC

Steadtrust LLC bought a new position in shares of Lincoln National Corporation (NYSE:LNC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,500 shares of the financial services provider’s stock, valued at approximately $625,000.

Other hedge funds also recently bought and sold shares of the company. Phillips Financial Management LLC boosted its stake in shares of Lincoln National by 1.2% in the 3rd quarter. Phillips Financial Management LLC now owns 21,857 shares of the financial services provider’s stock valued at $881,000 after buying an additional 254 shares during the period. Evergreen Capital Management LLC grew its position in shares of Lincoln National by 3.2% during the second quarter. Evergreen Capital Management LLC now owns 8,815 shares of the financial services provider’s stock worth $305,000 after buying an additional 275 shares in the last quarter. Xponance Inc. increased its stake in shares of Lincoln National by 3.3% during the third quarter. Xponance Inc. now owns 8,979 shares of the financial services provider’s stock worth $362,000 after buying an additional 286 shares during the period. Signaturefd LLC raised its holdings in Lincoln National by 1.7% in the third quarter. Signaturefd LLC now owns 17,927 shares of the financial services provider’s stock valued at $723,000 after acquiring an additional 297 shares in the last quarter. Finally, Focus Financial Network Inc. raised its holdings in Lincoln National by 4.0% in the third quarter. Focus Financial Network Inc. now owns 7,821 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Insider Transactions at Lincoln National

In other news, EVP Sean Woodroffe sold 10,000 shares of Lincoln National stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $34.46, for a total value of $344,600.00. Following the transaction, the executive vice president directly owned 206,159 shares of the company’s stock, valued at $7,104,239.14. The trade was a 4.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Waltman Reid sold 3,050 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $41.81, for a total transaction of $127,520.50. Following the completion of the sale, the executive vice president owned 118,567 shares of the company’s stock, valued at approximately $4,957,286.27. This trade represents a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 21,050 shares of company stock worth $734,041. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on LNC. Morgan Stanley lowered their price target on shares of Lincoln National from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Barclays decreased their price objective on shares of Lincoln National from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 11th. Wells Fargo & Company upgraded shares of Lincoln National from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $48.00 in a research note on Wednesday, February 25th. Piper Sandler increased their target price on Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Finally, Jefferies Financial Group lifted their price target on Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.46.

Lincoln National Stock Down 2.1%

Lincoln National stock opened at $33.80 on Thursday. The company has a market capitalization of $6.43 billion, a P/E ratio of 6.37, a PEG ratio of 1.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $46.82. The stock has a 50-day simple moving average of $38.61 and a 200-day simple moving average of $40.69.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.35. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.85 billion. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 EPS. Equities research analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, April 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.3%. Lincoln National’s dividend payout ratio (DPR) is 33.90%.

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.