84,900 Shares in Lincoln National Co. (NYSE:LNC) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of Lincoln National Co. (NYSE:LNC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 84,900 shares of the financial services provider’s stock, valued at approximately $2,290,000.

Several other hedge funds have also bought and sold shares of LNC. Achmea Investment Management B.V. purchased a new position in Lincoln National during the first quarter valued at $30,000. Financial Gravity Asset Management Inc. raised its position in shares of Lincoln National by 3,930.8% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,022 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Lincoln National by 65.6% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,348 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 534 shares in the last quarter. CVA Family Office LLC purchased a new stake in Lincoln National during the 4th quarter valued at about $37,000. Finally, Covestor Ltd increased its stake in Lincoln National by 704.7% during the 1st quarter. Covestor Ltd now owns 1,376 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 1,205 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LNC. Piper Sandler upped their target price on shares of Lincoln National from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Jefferies Financial Group upgraded Lincoln National from an “underperform” rating to a “hold” rating in a research note on Monday, February 12th. Evercore ISI upped their price target on Lincoln National from $33.00 to $35.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. UBS Group lifted their target price on shares of Lincoln National from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Lincoln National has a consensus rating of “Hold” and a consensus target price of $28.45.

Lincoln National Stock Down 2.1 %

NYSE LNC opened at $27.30 on Wednesday. Lincoln National Co. has a 52-week low of $18.50 and a 52-week high of $32.43. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.96. The firm’s 50 day moving average price is $28.27 and its 200-day moving average price is $26.22.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.32 by $0.13. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $4.44 billion. Lincoln National had a negative net margin of 6.46% and a positive return on equity of 20.81%. On average, equities analysts forecast that Lincoln National Co. will post 6.47 EPS for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date is Tuesday, April 9th. Lincoln National’s dividend payout ratio (DPR) is presently -36.07%.

Insiders Place Their Bets

In related news, Director Owen Ryan acquired 10,000 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $25.90 per share, for a total transaction of $259,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $259,000. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.75% of the stock is owned by insiders.

Lincoln National Company 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.