Edgestream Partners L.P. Takes $1.83 Million Position in Lincoln National Co. (NYSE:LNC)

Edgestream Partners L.P. acquired a new stake in Lincoln National Co. (NYSE:LNC) during the 1st quarter, Holdings Channel reports. The firm acquired 57,183 shares of the financial services provider’s stock, valued at approximately $1,826,000.

Other large investors have also made changes to their positions in the company. First Merchants Corp purchased a new stake in shares of Lincoln National in the fourth quarter worth about $269,000. GSA Capital Partners LLP lifted its position in shares of Lincoln National by 1,032.2% in the fourth quarter. GSA Capital Partners LLP now owns 105,777 shares of the financial services provider’s stock worth $2,853,000 after buying an additional 96,434 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Lincoln National by 33.0% in the first quarter. First Eagle Investment Management LLC now owns 387,800 shares of the financial services provider’s stock worth $12,382,000 after buying an additional 96,200 shares in the last quarter. Advisors Preferred LLC purchased a new stake in shares of Lincoln National in the fourth quarter worth about $3,830,000. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of Lincoln National in the fourth quarter worth about $2,263,000. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Trading Up 1.3 %

NYSE:LNC traded up $0.40 during midday trading on Monday, hitting $32.31. The stock had a trading volume of 885,999 shares, compared to its average volume of 1,733,687. Lincoln National Co. has a one year low of $20.85 and a one year high of $33.33. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 4.43, a PEG ratio of 0.27 and a beta of 1.84. The stock has a 50-day moving average of $31.61 and a 200 day moving average of $29.32. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.27. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.64 billion. As a group, sell-side analysts forecast that Lincoln National Co. will post 5.94 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.80 annualized dividend and a yield of 5.57%. Lincoln National’s dividend payout ratio (DPR) is currently 24.62%.

Wall Street Analyst Weigh In

LNC has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 2nd. Bank of America decreased their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Piper Sandler upped their price objective on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods upped their price objective on Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.18.

Insider Buying and Selling

In other Lincoln National news, EVP Sean Woodroffe sold 55,127 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the sale, the executive vice president now owns 198,255 shares of the company’s stock, valued at approximately $6,457,165.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by insiders.

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.