Concurrent Investment Advisors LLC Acquires 5,085 Shares of Lincoln National Corporation $LNC

Concurrent Investment Advisors LLC boosted its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 39.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 18,089 shares of the financial services provider’s stock after purchasing an additional 5,085 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Lincoln National were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in shares of Lincoln National by 22.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 184,957 shares of the financial services provider’s stock worth $6,642,000 after acquiring an additional 33,644 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Lincoln National by 34.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 204,010 shares of the financial services provider’s stock worth $7,346,000 after acquiring an additional 51,823 shares during the period. DMC Group LLC lifted its position in shares of Lincoln National by 47.1% in the 1st quarter. DMC Group LLC now owns 25,749 shares of the financial services provider’s stock worth $925,000 after acquiring an additional 8,250 shares during the period. Smith Salley Wealth Management bought a new stake in shares of Lincoln National in the 1st quarter worth approximately $268,000. Finally, Atlas Capital Advisors Inc. lifted its position in shares of Lincoln National by 4,083.7% in the 1st quarter. Atlas Capital Advisors Inc. now owns 19,705 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 19,234 shares during the period. Institutional investors own 72.81% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the completion of the sale, the executive vice president directly owned 123,815 shares of the company’s stock, valued at $4,864,691.35. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on LNC shares. Morgan Stanley reduced their price objective on Lincoln National from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Barclays raised their price objective on Lincoln National from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Lincoln National from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Wolfe Research raised Lincoln National to a “strong sell” rating in a report on Tuesday, September 16th. Finally, JPMorgan Chase & Co. increased their target price on Lincoln National from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $43.09.

Lincoln National Trading Up 1.4%

LNC stock opened at $38.56 on Friday. The business has a fifty day moving average price of $40.82 and a 200 day moving average price of $35.99. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $43.66. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 6.73, a P/E/G ratio of 0.48 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the firm posted $1.87 EPS. Analysts expect that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National’s dividend payout ratio (DPR) is currently 31.41%.

About Lincoln National

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.