Lincoln National Corporation $LNC Stock Holdings Increased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its position in Lincoln National Corporation (NYSE:LNC) by 21.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,276 shares of the financial services provider’s stock after buying an additional 6,072 shares during the quarter. DAVENPORT & Co LLC’s holdings in Lincoln National were worth $1,186,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in shares of Lincoln National by 22.2% during the first quarter. Janney Montgomery Scott LLC now owns 184,957 shares of the financial services provider’s stock valued at $6,642,000 after purchasing an additional 33,644 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Lincoln National by 34.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 204,010 shares of the financial services provider’s stock valued at $7,346,000 after purchasing an additional 51,823 shares during the last quarter. Integrated Advisors Network LLC bought a new position in shares of Lincoln National during the first quarter valued at approximately $293,000. DMC Group LLC grew its holdings in shares of Lincoln National by 47.1% during the first quarter. DMC Group LLC now owns 25,749 shares of the financial services provider’s stock valued at $925,000 after purchasing an additional 8,250 shares during the last quarter. Finally, Smith Salley Wealth Management bought a new position in shares of Lincoln National during the first quarter valued at approximately $268,000. 72.81% of the stock is owned by institutional investors.

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the completion of the sale, the executive vice president owned 123,815 shares in the company, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LNC. Cfra Research raised Lincoln National to a “hold” rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods upped their target price on Lincoln National from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Thursday. Piper Sandler reaffirmed a “neutral” rating and set a $42.00 target price on shares of Lincoln National in a report on Tuesday. National Bankshares set a $53.00 price objective on Lincoln National in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Lincoln National from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Lincoln National has an average rating of “Reduce” and a consensus target price of $43.09.

Lincoln National Stock Performance

LNC opened at $38.10 on Friday. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $43.66. The business has a 50 day moving average price of $40.75 and a two-hundred day moving average price of $35.89.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm posted $1.87 earnings per share. Research analysts predict that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, October 10th. Lincoln National’s dividend payout ratio is 31.41%.

About Lincoln National

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.