Edgestream Partners L.P. Has $4.25 Million Stake in Lincoln National Co. (NYSE:LNC)

Edgestream Partners L.P. lifted its position in shares of Lincoln National Co. (NYSE:LNC) by 139.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,781 shares of the financial services provider’s stock after buying an additional 79,598 shares during the period. Edgestream Partners L.P. owned about 0.08% of Lincoln National worth $4,254,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in shares of Lincoln National during the 1st quarter worth approximately $25,000. Whittier Trust Co. lifted its position in Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after buying an additional 431 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Lincoln National during the 4th quarter worth about $27,000. Adirondack Trust Co. bought a new position in shares of Lincoln National in the 2nd quarter valued at about $31,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Lincoln National by 249.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 873 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Price Performance

Lincoln National stock opened at $29.97 on Wednesday. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 4.10, a PEG ratio of 0.29 and a beta of 1.81. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.82. Lincoln National Co. has a 12 month low of $20.85 and a 12 month high of $36.46. The stock’s 50 day moving average is $31.18 and its 200-day moving average is $30.35.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same period in the prior year, the firm posted $2.02 EPS. Equities research analysts expect that Lincoln National Co. will post 5.74 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date is Thursday, October 10th. Lincoln National’s dividend payout ratio is currently 24.62%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group boosted their price target on Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Morgan Stanley cut their price target on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Piper Sandler lifted their price objective on shares of Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. upped their target price on shares of Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 2nd. Finally, Bank of America reduced their price target on Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.64.

Lincoln National Profile

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.