Busey Wealth Management bought a new position in shares of Lincoln National Co. (NYSE:LNC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,535 shares of the financial services provider’s stock, valued at approximately $220,000.
Other hedge funds also recently modified their holdings of the company. Black Swift Group LLC acquired a new position in Lincoln National in the 4th quarter valued at about $27,000. Harvest Fund Management Co. Ltd acquired a new position in Lincoln National in the 4th quarter valued at $36,000. Fieldpoint Private Securities LLC acquired a new stake in shares of Lincoln National during the 4th quarter worth $49,000. Key Financial Inc acquired a new stake in shares of Lincoln National during the 4th quarter worth $50,000. Finally, Private Capital Group LLC increased its holdings in shares of Lincoln National by 2,168.9% during the 4th quarter. Private Capital Group LLC now owns 1,021 shares of the financial services provider’s stock worth $51,000 after buying an additional 976 shares during the last quarter. Hedge funds and other institutional investors own 76.74% of the company’s stock.
Shares of Lincoln National stock opened at $62.24 on Friday. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.32 and a beta of 2.26. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.31. Lincoln National Co. has a 12-month low of $28.53 and a 12-month high of $67.37. The firm’s 50-day moving average price is $62.25 and its two-hundred day moving average price is $50.60.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Monday, April 12th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, April 9th. Lincoln National’s payout ratio is currently 19.31%.
Several equities research analysts have commented on LNC shares. Morgan Stanley raised their price target on shares of Lincoln National from $60.00 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, April 1st. Barclays raised their price objective on shares of Lincoln National from $61.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, April 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their price objective on shares of Lincoln National from $63.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, April 5th. Citigroup raised their price objective on shares of Lincoln National from $57.00 to $67.00 in a research note on Wednesday, March 31st. Finally, UBS Group assumed coverage on shares of Lincoln National in a report on Tuesday. They set a “neutral” rating and a $67.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.93.
In related news, CAO Christine A. Janofsky sold 7,413 shares of Lincoln National stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $56.25, for a total value of $416,981.25. Following the completion of the sale, the chief accounting officer now owns 14,216 shares of the company’s stock, valued at approximately $799,650. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.
Lincoln National Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.
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