23,239 Shares in Lincoln National Corporation $LNC Purchased by Studio Investment Management LLC

Studio Investment Management LLC acquired a new stake in shares of Lincoln National Corporation (NYSE:LNC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,239 shares of the financial services provider’s stock, valued at approximately $821,000.

A number of other hedge funds have also added to or reduced their stakes in LNC. Trust Co. of Vermont bought a new stake in shares of Lincoln National during the second quarter valued at approximately $28,000. JPL Wealth Management LLC bought a new stake in Lincoln National during the 3rd quarter valued at $29,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Lincoln National in the 4th quarter worth $32,000. Los Angeles Capital Management LLC purchased a new stake in shares of Lincoln National in the 4th quarter worth $34,000. Finally, NBT Bank N A NY grew its position in shares of Lincoln National by 2,051.1% during the 1st quarter. NBT Bank N A NY now owns 968 shares of the financial services provider’s stock worth $34,000 after buying an additional 923 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gary Kelly sold 15,007 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total transaction of $397,685.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sean Woodroffe sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $45.28, for a total value of $498,080.00. Following the completion of the sale, the executive vice president directly owned 119,947 shares of the company’s stock, valued at approximately $5,431,200.16. This represents a 8.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.03% of the stock is owned by company insiders.

Lincoln National Stock Down 0.1%

Shares of Lincoln National stock opened at $45.42 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.62. The company has a market cap of $8.70 billion, a P/E ratio of 3.94, a PEG ratio of 1.61 and a beta of 1.12. The firm’s 50 day moving average price is $42.41 and its 200-day moving average price is $38.08. Lincoln National Corporation has a 52-week low of $32.18 and a 52-week high of $47.67.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, July 30th. The financial services provider reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.28. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. Lincoln National’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.36 earnings per share. On average, sell-side analysts predict that Lincoln National Corporation will post 7.97 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, October 9th. Lincoln National’s dividend payout ratio is currently 15.60%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen lifted their price objective on Lincoln National from $37.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Mizuho upped their price target on shares of Lincoln National from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Wells Fargo & Company increased their price objective on shares of Lincoln National from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Lincoln National from $46.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Morgan Stanley increased their target price on Lincoln National from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $47.07.

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.