Ritholtz Wealth Management Makes New Investment in Lincoln National Corporation $LNC

Ritholtz Wealth Management acquired a new stake in Lincoln National Corporation (NYSE:LNC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 13,150 shares of the financial services provider’s stock, valued at approximately $530,000.

Several other institutional investors have also recently added to or reduced their stakes in LNC. Salomon & Ludwin LLC bought a new stake in Lincoln National during the 3rd quarter worth approximately $32,000. Advisors Asset Management Inc. acquired a new stake in shares of Lincoln National in the second quarter valued at approximately $28,000. Ameritas Advisory Services LLC bought a new position in Lincoln National in the 2nd quarter worth approximately $29,000. Mather Group LLC. bought a new position in Lincoln National in the 3rd quarter worth approximately $39,000. Finally, CoreCap Advisors LLC boosted its position in Lincoln National by 372.1% in the 3rd quarter. CoreCap Advisors LLC now owns 1,100 shares of the financial services provider’s stock valued at $44,000 after buying an additional 867 shares during the last quarter. 72.81% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP John Christopher Kennedy sold 3,519 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total transaction of $155,363.85. Following the completion of the transaction, the executive vice president directly owned 118,985 shares of the company’s stock, valued at $5,253,187.75. This trade represents a 2.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Owen Ryan acquired 2,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average price of $42.17 per share, for a total transaction of $84,340.00. Following the completion of the acquisition, the director directly owned 12,000 shares of the company’s stock, valued at $506,040. The trade was a 20.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.54% of the stock is owned by corporate insiders.

Lincoln National Price Performance

Shares of LNC opened at $39.72 on Wednesday. The stock has a 50 day simple moving average of $43.08 and a 200 day simple moving average of $40.63. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $46.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $7.55 billion, a PE ratio of 3.57, a P/E/G ratio of 0.43 and a beta of 1.32.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.20. Lincoln National had a net margin of 11.49% and a return on equity of 18.77%. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm posted $2.06 earnings per share. Sell-side analysts predict that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, January 12th. Lincoln National’s payout ratio is 16.16%.

Analyst Upgrades and Downgrades

LNC has been the topic of several recent research reports. Barclays raised their price target on Lincoln National from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of Lincoln National from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Piper Sandler lifted their target price on shares of Lincoln National from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. National Bankshares set a $45.00 price target on Lincoln National in a research note on Thursday, January 8th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Lincoln National in a report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Lincoln National presently has a consensus rating of “Hold” and an average price target of $46.25.

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.