Bank of New York Mellon Corp Has $53.37 Million Stake in Lincoln National Co. (NYSE:LNC)

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Bank of New York Mellon Corp increased its stake in shares of Lincoln National Co. (NYSE:LNC) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,027,617 shares of the financial services provider’s stock after acquiring an additional 57,600 shares during the period. Bank of New York Mellon Corp owned about 1.05% of Lincoln National worth $53,366,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Lincoln National by 1.1% during the fourth quarter. State Street Corp now owns 9,449,890 shares of the financial services provider’s stock worth $557,638,000 after acquiring an additional 106,191 shares during the period. Lyrical Asset Management LP increased its stake in Lincoln National by 4.5% in the 4th quarter. Lyrical Asset Management LP now owns 5,012,062 shares of the financial services provider’s stock valued at $295,762,000 after buying an additional 216,444 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Lincoln National by 9.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,896,702 shares of the financial services provider’s stock valued at $170,934,000 after buying an additional 247,786 shares during the last quarter. Acadian Asset Management LLC increased its stake in Lincoln National by 5.5% in the 4th quarter. Acadian Asset Management LLC now owns 2,753,885 shares of the financial services provider’s stock valued at $162,506,000 after buying an additional 142,536 shares during the last quarter. Finally, Norges Bank acquired a new stake in Lincoln National in the 4th quarter valued at $125,815,000. Institutional investors and hedge funds own 81.22% of the company’s stock.

Shares of LNC stock opened at $35.94 on Friday. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 3.86 and a beta of 2.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.23 and a current ratio of 0.23. The company has a 50-day simple moving average of $31.24 and a 200 day simple moving average of $47.39. Lincoln National Co. has a 52 week low of $16.11 and a 52 week high of $67.17.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, May 7th. The financial services provider reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.53 billion. Lincoln National had a net margin of 3.72% and a return on equity of 10.01%. Lincoln National’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 EPS. Sell-side analysts forecast that Lincoln National Co. will post 8.59 EPS for the current year.

Several brokerages have issued reports on LNC. B. Riley lifted their price target on shares of Lincoln National from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Royal Bank of Canada lifted their price target on shares of Lincoln National from $40.00 to $43.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. TheStreet lowered shares of Lincoln National from a “b-” rating to a “c+” rating in a research note on Thursday, March 5th. Wells Fargo & Co lowered their price objective on shares of Lincoln National from $66.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Finally, Morgan Stanley lowered their price objective on shares of Lincoln National from $73.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $47.91.

In related news, EVP Lisa Buckingham bought 1,500 shares of Lincoln National stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $32.67 per share, with a total value of $49,005.00. Following the acquisition, the executive vice president now owns 74,333 shares of the company’s stock, valued at approximately $2,428,459.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Leanne Lachman acquired 3,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $35.59 per share, with a total value of $106,770.00. Insiders have purchased a total of 6,900 shares of company stock valued at $223,075 in the last ninety days. 1.50% of the stock is currently 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 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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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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